Cattle Close Mixed, with Fats Higher on Cash Strength
Live cattle futures were higher at the Wednesday close, with contracts up 70 cents to $1. Cash trade started on Wednesday, with sales of $229-230 live in the north and dressed at $360-370. A few sales were picked up in KS at $224-227. The Wednesday morning Fed Cattle Exchange online auction from Central Stockyards showed no sales on the 1,298 head, with bids of $216 to 217. Feeder cattle futures posted mixed action with nearby May up 30 cents ahead of Thursday’s expiration, and other contracts down $1.07 to $1.15. The CME Feeder Cattle Index was back up 31 cents on May 20 with an average price at $297.64.
USDA’s National Wholesale Boxed Beef report was higher on Wednesday afternoon, with the Chc/Sel spread narrowing to $11.31. Choice boxes were up 84 cents at $359.59, while Select was quoted $3.32 at $348.28 per hundred pounds. USDA’s Federally inspected cattle slaughter for Wednesday was estimated at 120,000 head, taking the weekly total to 255,000 head. That is up 16,000 head from the week prior but down 3,530 head from the same week last year.
Jun 25 Live Cattle closed at $214.150, up $0.975,
Aug 25 Live Cattle closed at $208.650, up $0.800,
Oct 25 Live Cattle closed at $206.075, up $0.775,
May 25 Feeder Cattle closed at $296.300, up $0.300,
Aug 25 Feeder Cattle closed at $296.425, down $1.075,
Sep 25 Feeder Cattle closed at $295.050, down $1.150,
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.