Cattle Mixed at Midday After Early Strength
Live cattle are trading with mixed action on Tuesday, with contracts 40 cents higher to 27 cents lower. There were no deliveries on first notice day for April live cattle. Last week’s cash trade was reported at $208 in the South last week, down $1-2 from last week. Northern sales were steady to down $1 to $212-213.
Feeder cattle futures are leaking lower, down 45 to 55 vents so far, as front month April is up 2.675. The CME Feeder Cattle Index was back down $1.95 on April 4, with the average price at $290. There are just 1,589 head sold on Monday’s OKC feeder cattle auction, with price action down $5-10 for feeder steers and $15 lower for calves over 500 lbs. Heifers were down $12-15 and calves down $20-25.
USDA’s National Wholesale Boxed Beef report was again higher on Tuesday morning, as the Chc/Sel narrowed to $15.14. Choice boxes were up just 3 cents at $339.53/cwt, with Select $5.09 higher to $324.39. Monday’s Federally inspected cattle slaughter was estimated at 108,000 head. That was 4,000 head above the previous Monday and down 12,384 head from the same week last year.
Apr 25 Live Cattle are at $199.325, up $0.400,
Jun 25 Live Cattle are at $193.900, down $0.275,
Aug 25 Live Cattle are at $190.575, up $0.050,
Apr 25 Feeder Cattle are at $280.500, up $2.675
May 25 Feeder Cattle are at $270.825, down $0.450
Aug 25 Feeder Cattle are at $277.500, down $0.550
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.