Live cattle futures are firm so far on Wednesday, with contracts withing 30 cents of unchanged. Cash trade has been quiet so far this week. The Wednesday Fed Cattle Exchange auction showed one lot of 138 head sold at $249 live, with the rest of the 1,541 head getting bids of $244-249 and $377 dressed. Feeder cattle futures are 7 to 55 cents higher at midday. The CME Feeder Cattle Index was up $0.99 to $376.07 on February 16. Monday’s OKC feeder cattle auction showed sales on 6,698 head, with price action steady to $4 higher for feeder steers and $5-10 higher on heifers.
Wholesale Boxed Beef prices were mixed in the Wednesday morning report, with the Chc/Sel spread tightening to $2.99. Choice boxes were down another $1.26 to $363.50, while Select was 99 cents higher to $361.21. USDA estimated Tuesday’s federally inspected cattle slaughter at 115,000 head, taking the weekly total to 202,000 head. That is 21,000 head above last week and 8,025 head below the same week last year.
Feb 26 Live Cattle are at $246.775, up $0.225,
Apr 26 Live Cattle are at $242.800, down $0.000,
Jun 26 Live Cattle are at $238.750, up $0.300,
Mar 26 Feeder Cattle are at $371.050, up $0.075
Apr 26 Feeder Cattle are at $368.150, up $0.325
May 26 Feeder Cattle are at $364.350, up $0.550
