Live cattle futures were higher on Thursday, with gains of 40 cents to $1.05. Cash trade so far this week is at $202-203 in the South, down $3. The rest of the country has been quiet. Feeder cattle futures settled Thursday with $2.55 to $3.00 gains. The CME Feeder Cattle Index was down $1.31 on February 11 to $274.42. The markets will be closed on Monday for President’s Day, with a normal open for the Tuesday session.
USDA’s weekly Export Sales report tallied just 13,098 MT of beef sold in the week of 2/6, down 47.41% from last week. South Korea was the buyer of 7,400 MT, with Japan buying 2,700 MT. Export shipments were 14,901 MT in that week, with 4,800 MT shipped to South Korea and 3,600 MT to Japan.Â
USDA’s National Boxed Beef report was mixed in the Thursday PM report, as the Chc/Sel spread narrowed to $7.56. Choice boxes were down $1.86 at $317.40/cwt, with Select 70 cents higher to $309.84. The Thursday Federally inspected cattle slaughter was estimated at 117,000 head according to the USDA, taking the week to date total to 454,000 head. That is down 22,000 head from last week and 31,607 head below the same week last year.
Feb 25 Live Cattle  closed at $199.550, up $0.400,
Apr 25 Live Cattle  closed at $196.525, up $0.800,
Jun 25 Live Cattle  closed at $192.425, up $1.050,
Mar 25 Feeder Cattle  closed at $267.975, up $3.000,
Apr 25 Feeder Cattle  closed at $267.975, up $2.725,
May 25 Feeder Cattle  closed at $266.300, up $2.550,
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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