Live Cattle Futures Decline as Market Shows Limited Activity
Live cattle futures ended midweek trading with contracts dropping between $0.60 and $1.80. April futures expired on Wednesday, and cash trading has not shown significant movement this week, featuring limited transactions between $214 and $218. The Central Stockyards Fed Cattle Exchange’s online auction recorded sales of 40 out of 1,028 head offered at $216 in Iowa using their BidTheGrid™ method. Other bids settled between $209 and $210. Meanwhile, feeder cattle futures decreased by $1.45 to $1.90 during the session. The CME Feeder Cattle Index increased by 63 cents on April 29, marking an average price of $295.77.
The USDA’s National Wholesale Boxed Beef report also indicated weaker activity on Wednesday afternoon. The Choice/Select spread narrowed to $23.29, with Choice boxes decreasing by $2.95 to $345.31 per hundredweight (cwt) and Select boxes down $1.80 to $322.02. Federally inspected cattle slaughter for Wednesday was estimated at 121,000 head, leading to a weekly total of 345,000. This figure is 5,000 head lower than the previous week and down 13,878 head compared to the same week last year.
Cattle Futures Closing Prices
- Apr 25 Live Cattle closed at $215.750, down $0.600
- Jun 25 Live Cattle closed at $208.400, down $1.800
- Aug 25 Live Cattle closed at $204.050, down $1.625
- May 25 Feeder Cattle closed at $292.575, down $1.450
- Aug 25 Feeder Cattle closed at $295.025, down $1.875
- Sep 25 Feeder Cattle closed at $293.800, down $1.800
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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
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