Cattle in the Red at Midday
Live cattle futures are trading with 25 to 65 cent losses across the front months on Tuesday. Cash trade was strong last week, settling in across the country at $203 in the South, with Northern action at $205-206.
Feeder cattle futures are down 12 to 52 cents in the front months on Tuesday. The CME Feeder Cattle Index was back up $0.55 on March 14, with the average price at $283.27. The weekly OKC feeder cattle auction had sales on 7,489 head for sale. Sales were listed at $5-10 higher for feeder steers and up $2-6 for feeder heifers. steer caves were up $3-6, with heifers steady.
The USDA National Wholesale Boxed Beef report was higher on Tuesday morning, as the Chc/Sel widened to $13.65. Choice boxes were up $1.82 at $322.98/cwt, with Select $1.43 higher at $309.33. Monday’s Federally inspected cattle slaughter was estimated at 114,000 head by the USDA. That is 1,000 head below the previous Monday, and down 3,837 from the same Monday last year.
Apr 25 Live Cattle are at $204.775, down $0.250,
Jun 25 Live Cattle are at $200.425, down $0.650,
Aug 25 Live Cattle are at $198.275, down $0.575,
Mar 25 Feeder Cattle are at $284.500, down $0.125
Apr 25 Feeder Cattle are at $284.000, down $0.200
May 25 Feeder Cattle are at $284.775, down $0.525
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.