Live cattle futures are trading with contracts mixed on Thursday up 30 cents to lower in the deferreds. Cash trade has yet to get kicked off this week. Thursday morning’s Central Stockyards Fed Cattle Exchange showed no sales on the 3,044 head offered and bids ranging from $185-188.50. Feeder cattle futures are within a nickel of unchanged at Thursday’s midday. The CME Feeder Cattle Index was down a penny at $250.72 on November 5.
This morning’s Export Sales report showed beef bookings of just 7,966 MT, a calendar year low. Sales of 2,100 MT were reported to South Korea, with 2,000 MT to Japan. Shipments were tallied at a 6-week low of 14,368 MT. South Korea was the top destination of 4,100 MT, with 3,100 MT to Japan.
USDA wholesale Boxed Beef prices were lower in the Thursday morning report. Choice boxes were down $2.89 to $312.70/cwt, with Select 26 cents lower @ $282.94. The Chc/Sel spread narrowed to $29.76. USDA estimated Wednesday’s federally inspected cattle slaughter at 125,000 head, taking the week to date total to 369,000 head. That is even with the previous week and down 4,798 head from the same week last year.
Dec 24 Live Cattle are at $185.700, up $0.300,
Feb 25 Live Cattle are at $186.975, up $0.250,
Apr 25 Live Cattle are at $187.775, down $0.025,
Nov 24 Feeder Cattle are at $247.650, down $0.050
Jan 25 Feeder Cattle are at $244.075, up $0.050
Mar 25 Feeder Cattle are at $241.775, up $0.025
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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