Live cattle futures are back to higher trade on Tuesday’s midday, with gains of 45 cents to $1.45. Cash trade has been somewhat quiet this week, with some Northern cleanup trade at $310 in the beef. Last week’s sales were reported at $197 in the south and light $198-199 trade in the North.
Feeder cattle futures are down $1.20 to $2 at midday. The CME Feeder Cattle Index was back down 48 cents on Friday, with the average price at $280.58. The weekly OKC feeder cattle auction showed 10,907 head for sale, well above last week. Sales were steady to $4 lower for feeder cattle, with lighter weight steers $8-12 higher and heifers steady.
In response to President Trump’s additional 10% tariff on Chinese goods, China has issued a 10% tariff on imports of US beef.
USDA’s National Wholesale Boxed Beef prices were mixed in Tuesday morning’s report, with the Chc/Sel spread narrowing to $10.44. Choice boxes were down a penny at $313.92/cwt, with Select up 74 cents to $303.15. The Monday Federally inspected cattle slaughter from USDA was estimated at 102,000 head. That is 7,000 head above the previous Monday, but still down 15,485 head from the same week last year.
Apr 25 Live Cattle are at $193.700, up $1.450,
Jun 25 Live Cattle are at $189.000, up $0.900,
Aug 25 Live Cattle are at $187.625, up $0.450,
Mar 25 Feeder Cattle are at $272.025, down $2.000
Apr 25 Feeder Cattle are at $270.550, down $1.500
May 25 Feeder Cattle are at $268.975, down $1.225
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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