Live cattle futures posted losses of $2 to $2.20 in the front months on Wednesday. Cash trade has been quiet so far this week with bids of $232 so far in the South. The Wednesday morning Fed Cattle Exchange online auction showed just 1 lot sold at $360.50 dressed, with bids of $230-232 live. Feeder cattle futures closed the Wednesday session with contracts down $2.50 to $3.55. The CME Feeder Cattle Index was up another $0.78 to $363.15 on January 6.
USDA Wholesale Boxed Beef prices were mixed in the Wednesday afternoon report, with the Chc/Sel spread widening back out to $5.00. Choice boxes were up $3.03 to $3524.28, while Select was $1.80 lower at $349.28. Tuesday’s USDA federally inspected cattle slaughter was estimated at 115,000 head, with the week to date total at 348,000 head. That was a 13,000 head increase from last week but 9,543 head below last year.
Feb 26 Live Cattle closed at $234.525, down $2.100,
Apr 26 Live Cattle closed at $235.175, down $2.200,
Jun 26 Live Cattle closed at $230.025, down $2.050,
Jan 26 Feeder Cattle closed at $359.600, down $2.575,
Mar 26 Feeder Cattle closed at $355.500, down $3.525,
Apr 26 Feeder Cattle closed at $354.675, down $3.450,
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.
