Live cattle futures settled Wednesday with losses of 67 cents to $1.10 across most contracts. Early cash sales were reported on Wednesday with light trade in the south at $197. Wednesday morning’s Central Stockyards Fed Cattle Exchange online auction saw no sales on the 1,842 head offered, with bids of $198-199 using their BidTheGrid™ method. Feeder cattle posted mixed trade, as March was up 15 cents and other contracts in the red. CME’s Feeder Cattle Index was down 71 cents on February 25, with the average price at $278.73.
The National Wholesale Boxed Beef report from USD on Wednesday afternoon was lower, with the Chc/Sel spread back down to $9.66. Choice boxes were $1.42 lower at $312.90/cwt, with Select down 89 cents to $303.24. Wednesday’s Federally inspected cattle slaughter was estimated by USDA at 122,000, taking the weekly total to 339,000 head. That is 9,000 head above the previous week but still down 29,441 head from the same week last year.
Feb 25 Live Cattle closed at $198.825, down $0.675,
Apr 25 Live Cattle closed at $194.625, down $1.100,
Jun 25 Live Cattle closed at $191.275, down $0.975,
Mar 25 Feeder Cattle closed at $274.375, up $0.150,
Apr 25 Feeder Cattle closed at $273.525, down $0.275,
May 25 Feeder Cattle closed at $271.825, down $0.500,
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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