Live cattle futures are extending the strength, up $1.40 to $1.85. Cash trade kicked off at $195 in the south on Tuesday, with a few more picked up by the USDA this morning near $197. The Wednesday morning online Fed Cattle Exchange auction from Central Stockyards, showed sales on 2 lots at $197 live and one lot at $198.50 using their BidTheGrid™ method. Feeder cattle futures are up $1.40 to $3.20 in the front months, so far on Wednesday. The CME Feeder Cattle Index was back down $1.83 on Monday, with the average price at $278.75.
Reports are surfacing that the US is throwing around a delay in the implementation of tariffs on autos from Mexico and Canada, though nothing has been made official. President Trump spoke with President Trudeau of Canada this morning though there are no updates to this point on how the meeting went.
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Wednesday morning National Wholesale Boxed Beef prices from the USDA were lower, with the Chc/Sel spread narrowing to $11.41. Choice boxes were down 70 cents at $314.17/cwt, with Select up $1.26 to $302.76. Tuesday’s Federally inspected cattle slaughter from USDA was estimated at 123,000 head, taking the weekly total to 225,000 head. That is 8,000 head above the previous week, but still down 15,646 head from the same week last year.
Apr 25 Live Cattle are at $196.125, up $1.475,
Jun 25 Live Cattle are at $191.875, up $1.800,
Aug 25 Live Cattle are at $190.325, up $1.850,
Mar 25 Feeder Cattle are at $275.250, up $1.400
Apr 25 Feeder Cattle are at $275.400, up $2.900
May 25 Feeder Cattle are at $274.225, up $3.225
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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