Live cattle futures are down $2.20 to $2.35 so far at midday. Cash trade has been quiet so far this week with bids of $232 so far in the South. The Wednesday morning Fed Cattle Exchange online auction showed just 1 lot sold at $360.50 dressed, with bids of $230-232 live. Feeder cattle futures are down $2.80 to $4 so far on Wednesday. The CME Feeder Cattle Index was up another $9.26 to $362.37 on January 5.
USDA Wholesale Boxed Beef prices were mixed in the Wednesday morning report, with the Chc/Sel spread widening back out to $1.70. Choice boxes were up $1.22 to $352.47, while Select was 31 cents lower at $350.77. Tuesday’s USDA federally inspected cattle slaughter was estimated at 118,000 head, with the week to date total at 233,000 head. That was a 7,000 head drop from last week but 9327 head below last year.
Feb 26 Live Cattle are at $234.400, down $2.225,
Apr 26 Live Cattle are at $235.050, down $2.325,
Jun 26 Live Cattle are at $229.825, down $2.250,
Jan 26 Feeder Cattle are at $359.350, down $2.825
Mar 26 Feeder Cattle are at $355.225, down $3.800
Apr 26 Feeder Cattle are at $354.250, down $3.875
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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