Live cattle futures saw higher trade on Tuesday, with contracts up $2.10 to $2.40. Cash trade settled in last week at $238-240 live across the country and $375-378 dressed. Early action this week has been quiet with most compiling showlists. Feeder cattle futures posted gains of $1.57 to $2.05 on Tuesday. The CME Feeder Cattle Index was up another $3.82 to $374.41 on January 30. Monday’s OKC feeder cattle auction showed 2,624 head sold, with sales up $4-12 for feeder steers and $3-8 higher on feeder heifers, with calves reported steady.
USDA did report a case of new world screwworm in an imported horse from Argentina late last week, though the animal has remained in quarantine.
Wholesale Boxed Beef prices were mixed in the Tuesday PM report, with the Chc/Sel spread at $3.48. Choice boxes were up $2.50 to $370.71, while Select was $2.32 higher at $367.23. USDA reported federally inspected cattle slaughter at 115,000 head for Tuesday, with the weekly total at 223,000 head. That is 11,000 head above last week but 12,481 head shy of the same week last year.
Feb 26 Live Cattle closed at $240.325, up $2.150,
Apr 26 Live Cattle closed at $241.625, up $2.100,
Jun 26 Live Cattle closed at $236.625, up $2.375,
Mar 26 Feeder Cattle closed at $367.925, up $1.575,
Apr 26 Feeder Cattle closed at $365.875, up $1.700,
May 26 Feeder Cattle closed at $362.400, up $2.050,
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.
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