Cattle Holding Higher on Wednesday’s Midday

Live cattle are extending the week’s gains, as contracts are up 17 to 50 cents at midday.  Cash action has been quiet this week. The Central Stockyards Fed Cattle Exchange saw no sales on the 1,352 head listed on Wednesday morning, with bids of $181-181.25 and asks in the $185-186 range. Feeders are mostly higher, with gains of 12 to 62 cents. The CME Feeder Cattle index was up 39 cents on May 13 to $241.75.

USDA’s Wholesale Boxed Beef prices were higher again in the Wednesday morning report. Choice boxes were up another $2.98 at $307.37, with Select 85 cents higher to $294.67. That raised the Chc/Sel spread to $12.70. USDA estimated federally inspected cattle slaughter at 123,000 head for Tuesday, taking the weekly total to 239,000. That is down 5,000 head from last week and 12,957 head below the same week last year. 

Jun 24 Live Cattle  are at $178.350, up $0.175,

Aug 24 Live Cattle  are at $176.625, up $0.500,

Oct 24 Live Cattle  are at $179.775, up $0.425,

May 24 Feeder Cattle  are at $243.400, up $0.125

Aug 24 Feeder Cattle  are at $256.075, up $0.400

Sep 24 Feeder Cattle  are at $257.175, up $0.550

On the date of publication, Alan Brugler 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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