Live cattle futures are down $3 to 4 cents at midday, with Feb steady. Cash trade has been quiet so far this week, with a few bids picked up at $243-244 in the North, and $245 in the South. The Wednesday morning Fed Cattle Exchange online auction showed no sales on the 1,456 head offered and bids at $244-245.50. Feeder cattle futures are falling $5.25 to $6.10 so far on the day. The CME Feeder Cattle Index was down 62 cents to $374.79 on February 24.
Beef export sales data showed 12,902 MT sold in the week ending on 2/19. That was a 6-week low. Shipments were 13,306 MT, which was slightly below the week prior.
Wholesale Boxed Beef prices were mixed in the Thursday morning report, with the Chc/Sel spread narrowing to $8.13. Choice boxes were down 24 cents to $378.99, while Select was $3.79 higher to $370.86. USDA estimated Wednesday’s federally inspected cattle slaughter at 110,000 head, taking the weekly total to 327,000 head. That is 12,000 head above last week but 13,807 head below than the same week last year.
Feb 26 Live Cattle are at $246.000, unch,
Apr 26 Live Cattle are at $236.625, down $3.650,
Jun 26 Live Cattle are at $233.150, down $3.550,
Mar 26 Feeder Cattle are at $360.925, down $5.375
Apr 26 Feeder Cattle are at $357.950, down $6.075
May 26 Feeder Cattle are at $354.750, down $5.900
