Live cattle futures are down $2 to $4.12 at midday. Some new selling interest was noted, up 2,199 contracts. Cash trade has come in at $383 dressed in the North, with some $243-245 live across the rest of the country. Feeder cattle futures are $6.25 to $8.25 lower on Friday. The CME Feeder Cattle Index was down $1.62 to $373.17 on February 24.
The weekly update from APHIS showed 8 new cases of New World Screwworm in Tamaulipas in the last week ending on November 25, taking the total active cases in that bordering state to 10 (including 7 bovine).
Wholesale Boxed Beef prices were higher in the Friday morning report, with the Chc/Sel spread narrowing to $4.74. Choice boxes were up $1.08 to $378.97, while Select was $3.44 higher to $374.23. USDA estimated Thursday’s federally inspected cattle slaughter at 103,000 head, taking the weekly total to 427,000 head. That is even with last week but 33,333 head below than the same week last year.
Feb 26 Live Cattle are at $244.000, down $2.000,
Apr 26 Live Cattle are at $232.775, down $4.125,
Jun 26 Live Cattle are at $229.625, down $3.775,
Mar 26 Feeder Cattle are at $355.400, down $6.250
Apr 26 Feeder Cattle are at $351.125, down $7.625
May 26 Feeder Cattle are at $347.175, down $8.125
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.
