Cattle Falling Back on Thursday
Live cattle futures are falling back lower on Thursday, with losses of $2.10 to $3.25. Cash trade trickled in on Wednesday, with light action at $208 but not enough for a trend. This morning’s Central Stockyards Fed Cattle Exchange showed no sales on the 1,450 head offered, with bids of $200. Feeder cattle futures are down 80 cents to $3.30. The CME Feeder Cattle Index was back up 8 cents on Tuesday, with the average price at $290.61.
Export Sales data tallied 11,855 MT of beef sold in the week ending on April 3, the highest in 3 weeks Shipments were reported at 15,065 MT, a 3-week high.
The Thursday morning National Wholesale Boxed Beef prices were reported lower, as the Chc/Sel widened back out to $18.30. Choice boxes were down $2.25 at $335.61/cwt, with Select $3.30 lower to $317.31. Wednesday’s Federally inspected cattle slaughter was estimated at 123,000 head by the USDA, bringing the weekly total to 349,000 head. That was 2,000 head below the previous week and down 7,056 head from the same week last year.
Apr 25 Live Cattle are at $200.700, down $2.100,
Jun 25 Live Cattle are at $195.125, down $3.250,
Aug 25 Live Cattle are at $192.175, down $2.825,
Apr 25 Feeder Cattle are at $282.950, down $0.800
May 25 Feeder Cattle are at $275.350, down $2.850
Aug 25 Feeder Cattle are at $279.950, down $3.300
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.