Live cattle futures ended the Tuesday session with contracts mixed, steady to 30 cents lower in the nearbys and higher in the deferreds. Cash action from last week was mainly $202-203 in the South and $203 in the North.
Feeder cattle futures rallied on Tuesday, with contracts $2.20 to $3.37 higher across most months. The CME Feeder Cattle Index was up $1.69 on February 17 at $277.99. The OKC Feeder cattle auction showed 3,169 head sold with price action listed as steady. There were reports of additional cattle testing positive for new world screwworm in Mexico, though the USDA stated they would not restrict imports of cattle after updating inspection and treatment protocols.
USDA’s National Wholesale Boxed Beef report from Tuesday showed mixed action, with a widening Chc/Sel spread to $12.06. Choice boxes were up 7 cents at $315.77/cwt, with Select down $2.52 to $303.71. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at just 118,000 head, taking the weekly total to 213,000 head. That is down 4,000 head from the previous week and Monday and 12,683 head below the same week last year.
Feb 25 Live Cattle closed at $197.450, down $0.300,
Apr 25 Live Cattle closed at $194.025, down $0.225,
Jun 25 Live Cattle closed at $190.400, down $0.050,
Mar 25 Feeder Cattle closed at $269.725, up $3.375,
Apr 25 Feeder Cattle closed at $269.100, up $2.675,
May 25 Feeder Cattle closed at $267.325, up $2.325,
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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