Live cattle futures are taking back the losses from Wednesday, as contracts are up $1.82 to $3.20 at midday. Cash trade has yet to be reported this week, with some bids of $200 being reported. Wednesday morning’s Central Stockyards Fed Cattle Exchange online auction showed sales on 135 head of the 1,108 head offered at $198 using the BidTheGrid™ method. Feeder cattle futures are up $3.15 to $4 so far on the day. The CME Feeder Cattle Index was up another 57 cents from the day prior at $272.86 on January 7.
USDA wholesale Boxed Beef prices were higher in the Thursday morning report, with the Chc/Sel spread tightening to $21.45. Choice boxes were up $2.21 at $330.82/cwt, with Select $2.48 higher @ $306.89. USDA estimated federally inspected cattle slaughter for Wednesday at 122,000 head, taking the weekly total to 357,000 head. That is up 43,459 head from the same week last year.
Feb 25 Live Cattle are at $196.900, up $3.200,
Apr 25 Live Cattle are at $197.825, up $2.300,
Jun 25 Live Cattle are at $192.300, up $1.825,
Jan 25 Feeder Cattle are at $269.575, up $4.000
Mar 25 Feeder Cattle are at $268.475, up $3.500
Apr 25 Feeder Cattle are at $269.300, up $3.150
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 BarchartThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
