Live cattle futures are fading off lower on Friday’s midday, as a weaker cash market continues to add pressure. Contracts are 80 cents to $1.22. Cash trade for this week has settled in at $202-203 in the South and $203 in the North. Feeder cattle futures are slipping back 55 cents to $1.05 on the session. 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.
The National Boxed Beef prices were reported lower in the Friday morning report, as the Chc/Sel spread narrowed to $6.59. Choice boxes were down $2.26 at $315.14/cwt, with Select $1.29 higher to $308.55. Thursday’s Federally inspected cattle slaughter was pegged 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 are at $198.750, down $0.800,
Apr 25 Live Cattle are at $195.300, down $1.225,
Jun 25 Live Cattle are at $191.500, down $0.925,
Mar 25 Feeder Cattle are at $266.925, down $1.050
Apr 25 Feeder Cattle are at $267.200, down $0.775
May 25 Feeder Cattle are at $265.750, down $0.550
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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