Live cattle futures are posting $3.60 to $4 across most contracts. Cash trade has yet to be reported so far this week. Wednesday morning’s Fed Cattle Exchange online auction showed no sales on the 1,224 head, with bids at $238. Feeder cattle futures are showing $6 to $6.85 gains across most contracts. The CME Feeder Cattle Index was down another $2.23 to $369.59 on March 2.
Wholesale Boxed Beef prices were higher in the Wednesday morning report, with the Chc/Sel spread narrowing to $8.46. Choice boxes were up 78 cents to $388.83, while Select was $1.79 higher to $380.37. USDA estimated federally inspected cattle slaughter for Tuesday at 109,000 head, with the week to date total at 211,000 head. That is 6,000 head below the previous week and 14,835 head shy of the same week last year.
Apr 26 Live Cattle are at $237.750, up $3.625,
Jun 26 Live Cattle are at $234.650, up $3.975,
Aug 26 Live Cattle are at $232.775, up $3.875,
Mar 26 Feeder Cattle are at $363.225, up $6.025
Apr 26 Feeder Cattle are at $360.050, up $6.750
May 26 Feeder Cattle are at $356.200, up $6.850
