Nearby live cattle futures are trading $0.35 to $1.32 at midday, led by the Feb and April contracts. Cash sales were light on Wednesday near $174. Feeder cattle futures are up $.47 to $1.35 through Thursday’s midday. The CME Feeder Cattle Index dropped $8.26 to $230.21 on 1/23.
Weekly beef export sales were shown at 22.4k MT for the week ending 1/25. That was the largest sale since the week of Feb 8th 2023. The week’s export shipment was 16k MT for a yearly total of 38k MT. That is 52% ahead of last year’s pace.
NASS Cold Storage data released Wednesday afternoon had 485.127m lbs of beef in storage on December 31. That was 6% more than November, but was 11% tighter than Dec ’22.
USDA’s Wholesale Boxed Beef prices were lower on Wednesday with a $2.16 drop in Choice and a $1.14 drop in Select. Federally inspected cattle slaughter was 126k head on Wednesday for a weekly total of 366k head. That compares to 375k head last year.
Feb 24 Cattle are at $176.225, up $0.875,
April 24 Cattle are at $179.350, up $1.000,
Jun 24 Cattle are at $176.400, up $0.950,
Cash Cattle Index was $173.000, from $173.00 last week
Mar 24 Feeder Cattle are at $234.100, up $0.325
April 24 Feeder Cattle are at $240.525, up $0.725
On the date of publication, Alan Brugler 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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