Live cattle futures are trading with Thursday midday strength so far, as contracts are up 37 cents to $1.025. Cash trade has kicked off this week at $203 in the South, down $3, though the rest of the country has been quiet. Middy bids on Thursday are $202-203. The Thursday version of the Central Stockyards Fed Cattle Exchange online auction saw no sales on the 595 head, with bids at $200-203. Feeder cattle futures are up $2.25 to $3.70 at Thursday’s midday. The CME Feeder Cattle Index was down 12 cents on February 11 to $275.73.
USDA’s Export Sales report showed a total of 13,098 MT of beef sold in the week of 2/6, down 47.41% from last week. South Korea was the buyer of 7,400 MT, with Japan buying 2,700 MT. Export shipments totaled 14,901 MT in that week. Of that total, 4,800 MT was shipped to South Korea and 3,600 MT to Japan.
The National Boxed Beef report was mixed in the Thursday AM report, with the Chc/Sel spread narrowing to $7.98. Choice boxes were down $1.12 at $318.14/cwt, with Select $1.02 higher to $310.16. Wednesday’s estimated Federally inspected cattle slaughter was 120,000 head according to the USDA, with the week to date total at 337,000 head. That is down 21,000 head from last week and 25,307 head below the same week last year.
Feb 25 Live Cattle are at $199.525, up $0.375,
Apr 25 Live Cattle are at $196.650, up $0.925,
Jun 25 Live Cattle are at $192.400, up $1.025,
Mar 25 Feeder Cattle are at $267.650, up $2.675
Apr 25 Feeder Cattle are at $267.675, up $2.425
May 25 Feeder Cattle are at $266.000, up $2.250
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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