Live cattle futures closed with contracts 17 to 72 cents in the green at Wednesday’s close. Cash trade saw a few cattle exchange hands at $232 so far this week on thin volume. Other bids are being reported at $233. The Wednesday Fed Cattle Exchange online auction showed no sales on the 1,228 head, with bids of $230 live and $355 in the beef. Feeder cattle futures posted 45 cent to $1.70 gains across most contracts on Wednesday. The CME Feeder Cattle Index was down $0.27to $367.41 on January 19.
Wholesale prices were higher in USDA’s Wednesday morning Boxed Beef report, with the Chc/Sel spread narrowing to $3.66. Choice boxes were up $1.35 to $366.11, while Select was $2.61 higher at $362.45. Wednesday’s USDA federally inspected cattle slaughter was estimated at 114,000 head, with the weekly total at 333,000. That was 19,000 head below last week and 24,949 head shy of the same period last year.
Feb 26 Live Cattle closed at $233.100, up $0.725,
Apr 26 Live Cattle closed at $234.950, up $0.375,
Jun 26 Live Cattle closed at $230.875, up $0.275,
Jan 26 Feeder Cattle closed at $363.225, up $0.600,
Mar 26 Feeder Cattle closed at $359.375, up $1.700,
Apr 26 Feeder Cattle closed at $358.125, up $1.675,
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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