Cattle Continuing Rally on Wednesday
Live cattle futures are rallying on Wednesday, with contracts up $1.25 to $1.85. This morning’s Fed Cattle Exchange online auction from Central Stockyards showed sales on 2 lots totaling 397 head (of the 1,408 listed) at $210. Feeder cattle futures are up 25 to 95 cents at midday. The CME Feeder Cattle Index was back down 48 cents on March 31, with the average price at $291.02.
The Wednesday morning National Wholesale Boxed Beef report from USDA was back lower, as the Chc/Sel widened out to $20.86. Choice boxes were down $1.34 at $340.88/cwt, with Select $2.05 lower to $320.02. Tuesday’s Federally inspected cattle slaughter was estimated at 123,000 head by USDA, taking the weekly total to 227,000 head. That was 16,000 head below the previous week and down 2,404 head from the same week last year.
Apr 25 Live Cattle are at $210.450, up $1.325,
Jun 25 Live Cattle are at $207.250, up $1.825,
Aug 25 Live Cattle are at $203.575, up $1.250,
Apr 25 Feeder Cattle are at $288.525, up $0.250
May 25 Feeder Cattle are at $287.600, up $0.450
Aug 25 Feeder Cattle are at $293.350, up $0.950
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.