Live cattle futures are trying to push back higher at midday, with contracts up $1.10 to $1.45 as April tries to climb back above $100. Cash trade has been quiet so far this week, with a few light bids of $200 in KS to start out. This morning’s online Fed Cattle Exchange auction form Central Stockyards showed no sales on the 1,836 head listed and bids near $198. Feeder cattle are trading with contracts $1.65 to $2.20 higher. The CME Feeder Cattle Index was back up $2.59 on March 10, with the average price at $276.54.
Wednesday morning’s National Wholesale Boxed Beef prices were higher, with the Chc/Sel narrowing back down to $12.74. Choice boxes were up a nickel at $321.25/cwt, with Select $1.65 higher at $308.51. The Tuesday Federally inspected cattle slaughter was estimated at 124,000 head by the USDA, taking the weekly total to 239,000 head. That is 14,000 head above the previous week and 5,152 larger than the same week last year.
Apr 25 Live Cattle are at $201.000, up $1.450,
Jun 25 Live Cattle are at $197.525, up $1.275,
Aug 25 Live Cattle are at $195.375, up $1.100,
Mar 25 Feeder Cattle are at $279.150, up $1.650
Apr 25 Feeder Cattle are at $279.900, up $2.200
May 25 Feeder Cattle are at $281.125, up $2.175
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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