Cattle Slipping Weaker on Friday
Live cattle futures are down 30 to 55 cents across the nearbys on Friday. Cash trade has been slow this week. A single sale of $222 was reported in IA this morning. The Central Stockyards Fed Cattle Exchange online auction showed no sales on the 1,328 head listed again on Friday morning and bids of $206-2010. Feeder cattle futures are facing midday weakness ahead of the weekend with contracts down 17 cents to $1.075. The CME Feeder Cattle Index was back up 77 cents on March 26, with the average price at $287.67.
The National Wholesale Boxed Beef report from USDA was mixed again on Friday morning, as the Chc/Sel narrowed to $13.03. Choice boxes were down $2.33 at $333.39/cwt, with Select up 92 cents to $320.36. The Thursday Federally inspected cattle slaughter was estimated at 119,000 head by USDA, taking the week to date total to 485,000 head. That is 45,000 head above the previous week and up 4,764 head from the same week last year.
Apr 25 Live Cattle are at $209.225, down $0.325,
Jun 25 Live Cattle are at $205.275, down $0.525,
Aug 25 Live Cattle are at $201.325, down $0.475,
Apr 25 Feeder Cattle are at $287.375, down $0.175
May 25 Feeder Cattle are at $285.450, down $1.075
Aug 25 Feeder Cattle are at $289.900, down $0.750
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.