Cattle Falling on Thursday
Live cattle futures are trading with contracts down 62 cent to $1.52 at midday. Cash trade has been slower this week, with bids so far at $198 in the South and $200 in the North. The Thursday morning Central Stockyards online Fed Cattle Exchange auction showed sales 113 of the 994 head listed at $201, with other bids at $198. Feeder cattle futures are collapsing, down $2.70 to $3.10. The CME Feeder Cattle Index was at $278.51 on February 18, up another 52 cents.
The Thursday morning National Wholesale Boxed Beef report was mixed, as the Chc/Sel spread was tighter at $8.08. Choice boxes were another $1.80 lower at $312.09/cwt, with Select 25 cents higher to $304.01. Wednesday’s Federally inspected cattle slaughter was estimated at 117,000 head, with the weekly total at 330,000 head. That is down 7,000 head from the previous week and 15,663 head below the same week last year.
Feb 25 Live Cattle are at $197.200, down $0.625,
Apr 25 Live Cattle are at $193.250, down $1.525,
Jun 25 Live Cattle are at $189.575, down $1.350,
Mar 25 Feeder Cattle are at $265.925, down $3.100
Apr 25 Feeder Cattle are at $265.550, down $3.050
May 25 Feeder Cattle are at $264.350, down $2.700
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.