Live cattle futures are posting $1.97 to $2.80 gains at midday, supported by stock market rallying back on Tuesday. Cash trade has been quiet so far this week. Last week was reported at $208-210 in the South and $212-214 in the North. Feeder cattle futures are rallying back on Tuesday with contracts up $2.12 to $3. The CME Feeder Cattle Index was back down $3.12 on April 18, with the average price at $289.30. The Monday afternoon OKC feeder cattle auction showed 1,582 head for sale, with sales listed as steady.
The Tuesday morning National Wholesale Boxed Beef report from USDA was higher, as the Chc/Sel was at $14.88. Choice boxes were $1.53 higher at $335.05/cwt, with Select up $1.40 to $320.17. Federally inspected cattle slaughter was estimated at 100,000 head for Monday. That was 12,000 head below the previous Monday and down 12,211 head from the same week last year.
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Apr 25 Live Cattle are at $211.750, up $1.975,
Jun 25 Live Cattle are at $206.550, up $2.800,
Aug 25 Live Cattle are at $202.775, up $2.775,
May 25 Feeder Cattle are at $287.650, up $2.125
Aug 25 Feeder Cattle are at $292.050, up $2.900
Sep 25 Feeder Cattle are at $291.000, up $3.000
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.
