Live cattle futures are 65 to 97 cents higher at midday. Cash trade saw a few cattle exchange hands at $232 so far this week on thin volume. Other bids are being reported at $233. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,228 head, with bids of $230 live and $355 in the beef. Feeder cattle futures are $1.37 to $2.15 in the green at midday. The CME Feeder Cattle Index was down $1.26 to $367.68 on January 19. Monday’s OKC feeder cattle auction showed 9,551 head sold with prices listed as steady to $4 lower on feeders.
Wholesale Boxed Beef prices were higher in USDA’s Wednesday morning report, with the Chc/Sel spread narrowing to $3.93. Choice boxes were up $1.42 to $366.18, while Select was $2.41 higher at $362.25. Tuesday’s USDA federally inspected cattle slaughter was estimated at 114,000 head, with the weekly total at 219,00. That was 16,000 head below last week and 15,837 head shy of the same period last year.
Feb 26 Live Cattle are at $233.350, up $0.975,
Apr 26 Live Cattle are at $235.275, up $0.700,
Jun 26 Live Cattle are at $231.275, up $0.675,
Jan 26 Feeder Cattle are at $364.000, up $1.375
Mar 26 Feeder Cattle are at $359.825, up $2.150
Apr 26 Feeder Cattle are at $358.500, up $2.050
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.
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