Live cattle futures are trading with $1.80 to $1.90 gains at midday. Cash trade has been mostly $372 dressed as well as a few live sales of $235-236. The Thursday morning Fed Cattle Exchange online auction showed sales of $235.50 on 447 of the 1,656 head offered, with other bids of $231-235. Feeder cattle futures are up 30 to 60 cents so far on Thursday. The CME Feeder Cattle Index was down another 97 cents to $364.80 on March 10.
Export Sales data showed a total of 25,443 MT of beef sold in the week ending on March 5, which was the largest sales total since February 2023. Shipments were the lowest for the calendar year at 11,427 MT.
Census data from converted to a carcass basis showed 195.4 million lbs of beef exports in January, the lowest since 2016.
Wholesale Boxed Beef prices were higher in the Thursday morning report, with the Chc/Sel spread narrowing to $7.32. Choice boxes were up $1.27 to $395.94, while Select was $1.85 higher to $388.62. USDA estimated federally inspected cattle slaughter for Wednesday at 106,000 head, with the week to date total at 317,000 head. That is down 5,000 from the previous week and 44,844 head shy of the same week last year.
Apr 26 Live Cattle are at $231.850, up $1.700,
Jun 26 Live Cattle are at $229.950, up $1.875,
Aug 26 Live Cattle are at $227.900, up $1.725,
Mar 26 Feeder Cattle are at $349.125, up $0.400
Apr 26 Feeder Cattle are at $343.600, up $0.300
May 26 Feeder Cattle are at $340.400, up $0.575
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.
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