Live cattle futures saw 40 cents to $1.07 gains Wednesday. Cash trade has yet to get kicked off this week, as last week settled in at $234-235 sales and $238 late in the south. The Wednesday morning Fed Cattle exchange showed no sales on the 1,016 head offered, with limited bids of $238. Feeder cattle futures posted gains of $1.52 to $2.75 at the close. The CME Feeder Cattle Index was up 89 cents to $366.82 on March 31. Thursday will be the last trade day for the week as the markets are off for Good Friday.
Wholesale Boxed Beef prices were lower in the Wednesday PM report, with the Chc/Sel at $2.17. Choice boxes were down $1.07 to $394.42, while Select was 34 cents lower at $392.59. USDA estimated federally inspected cattle slaughter for Wednesday at 107,000 head, with the weekly total at 324,000 head. That is up 9,000 head from last week but 45,169 head below the same week last year.
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Apr 26 Live Cattle closed at $244.050, up $1.025,
Jun 26 Live Cattle closed at $244.350, up $1.075,
Aug 26 Live Cattle closed at $240.675, up $0.875,
Apr 26 Feeder Cattle closed at $370.750, up $1.625,
May 26 Feeder Cattle closed at $368.000, up $1.525,
Aug 26 Feeder Cattle closed at $366.850, up $2.425,
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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