Live cattle futures are showing 30 to 65 cent gains so far at Tuesday’s midday. Monday’s cash action was mostly compiling showlists. Last week’s trade in the cash market was mostly $199 in the South and North trade at $199-200.
Feeders continue to be the rebound leaders, up another $1.50 to $2.00 The CME Feeder Cattle Index was another 53 cents higher on February 21 at $279.37. Monday’s OKC feeder cattle auction showed 4,335 head for sale, up from last week but well below last year. Sales were up $3 for feeder steers and steady to $2 higher for feeder heifers. Stockers were $10-20 higher, with calves up $3-8 for steers and $10-20 for heifers.
USDA’s National Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel spread trimming back to $9.55. Choice boxes were up $1.99 at $315.72/cwt, with Select $2.20 higher to $306.17. USDA’s Monday Federally inspected cattle slaughter was estimated at 95,000. That is steady with the previous week and down 26,493 head from the same week last year.
Feb 25 Live Cattle are at $199.225, up $0.325,
Apr 25 Live Cattle are at $195.500, up $0.400,
Jun 25 Live Cattle are at $192.050, up $0.650,
Mar 25 Feeder Cattle are at $274.175, up $1.875
Apr 25 Feeder Cattle are at $273.725, up $1.700
May 25 Feeder Cattle are at $272.075, up $1.725
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.More news from Barchart
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