Live cattle futures are trading with contracts up 15 cents to 25 cents lower in the nearbys. Cash trade has yet to get kicked off this week, with sales at $245-246 last week. The Central Stockyards Fed Cattle Exchange online auction saw no bids on the 970 head offered, with reserve prices (asks) at $250 live. Feeder cattle futures are back up 70 cents to $1.25 at midday. The CME Feeder Cattle Index was back up 4 cents to $364.59 on April 4.
The Tuesday APHIS update on New World Screwworm showed 40 active cases in Mexico’s bordering state of Tamaulipas, with 2 active cases in Neuvo Leon.
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Wholesale Boxed Beef prices were lower in the Wednesday morning report, with the Chc/Sel at an inverted $4.74. Choice boxes were down $1.21 to $381.53, while Select was 7 cebts lower at $386.26. USDA estimated federally inspected cattle slaughter for Tuesday at 113,000 head, with the weekly total at 211,000. That was down 6,000 head from last week on a revision to Monday and 15,921 head below the same week last year.
Apr 26 Live Cattle are at $248.350, up $0.150,
Jun 26 Live Cattle are at $245.575, down $0.225,
Aug 26 Live Cattle are at $242.175, down $0.200,
Apr 26 Feeder Cattle are at $369.700, up $0.800
May 26 Feeder Cattle are at $367.350, up $0.725
Aug 26 Feeder Cattle are at $367.275, up $1.225
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
