Live cattle futures are up $1.75 to $2.75 so far on Wednesday. Cash trade has been quiet so far this week. The Wednesday morning Fed Cattle Exchange online auction showed no sales on the 1,456 head offered and bids at $244-245. Feeder cattle futures are in rally mode, up $3.17 to $4.30 at midday. The CME Feeder Cattle Index was down 39 cents to $375.41 on February 23.
Cold Storage data from Tuesday afternoon showed a total of 434.9 million lbs of beef stocks as of January 31, down 4.44% from last year but slightly above the previous month.
Wholesale Boxed Beef prices were higher in the Wednesday morning report, with the Chc/Sel spread widening to $12.59. Choice boxes were up $1.92 to $379.35, while Select was 75 cents higher to $366.76. USDA estimated Tuesday’s federally inspected cattle slaughter at 111,000 head, taking the weekly total to 217,000 head. That is 15,000 head above last week and 1,682 head larger than the same week last year.
Feb 26 Live Cattle are at $246.775, up $1.750,
Apr 26 Live Cattle are at $241.725, up $2.625,
Jun 26 Live Cattle are at $237.900, up $2.350,
Mar 26 Feeder Cattle are at $368.275, up $3.175
Apr 26 Feeder Cattle are at $366.050, up $3.850
May 26 Feeder Cattle are at $362.775, up $4.300
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.
