Live cattle futures are up 35 to 75 cents on Wednesday, fading off the weaker start to the week. Cash trade has yet to kick off this week, with last week’s trade mainly $202-203 in the South and $203 in the North. This morning’s Central Stockyards online Fed Cattle Exchange auction showed no sales on 994 head, with bids at $199-202.50.
Feeder cattle futures are 57 cents to $1.05 lower at midday. The CME Feeder Cattle Index was up $1.69 on February 17 at $277.99. 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 this morning showed mixed action, though the Chc/Sel spread was narrowing to $9.66. Choice boxes were down cents at $314.01/cwt, with Select down 64 cents to $303.35. 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 12,683 head below the same week last year.
Feb 25 Live Cattle are at $197.800, up $0.350,
Apr 25 Live Cattle are at $194.775, up $0.750,
Jun 25 Live Cattle are at $190.950, up $0.550,
Mar 25 Feeder Cattle are at $268.675, down $1.050
Apr 25 Feeder Cattle are at $268.225, down $0.875
May 25 Feeder Cattle are at $266.750, down $0.575
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.
/NVIDIA%20Corp%20logo%20on%20phone-by%20Evolf%20via%20Shutterstock.jpg)
/Green%20hydrogen%20by%20Scharfsinn%20via%20Shutterstock.jpg)
/Semiconductor%20chip%20by%20Mykola%20Pokhodzhay%20via%20iStock.jpg)