Live cattle futures are 22 to 55 cents lower in the front months on Tuesday. Cash trade has yet to get kicked off this week. It found its footing last week at $233 to $236.50 live and $370 dressed. Feeder cattle futures are slipping back 40 to 50 cents in the nearbys, with soon to expire January up a nickel. The CME Feeder Cattle Index was up just 9 cents to $363.57 on January 23.
USDA’s wholesale Boxed Beef report from Tuesday morning showed prices mixed, with the Chc/Sel spread widening to $4.70. Choice boxes were up 37 cents to $369.27, while Select was $2.55 lower at $364.57. Monday’s USDA federally inspected cattle slaughter was estimated at 100,000 head. That was 5,000 head below last Monday and 13,256 head shy of the same week last year.
Feb 26 Live Cattle are at $235.800, down $0.225,
Apr 26 Live Cattle are at $237.475, down $0.525,
Jun 26 Live Cattle are at $233.250, down $0.375,
Jan 26 Feeder Cattle are at $366.750, up $0.050
Mar 26 Feeder Cattle are at $362.125, down $0.475
Apr 26 Feeder Cattle are at $360.800, down $0.400
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.
