Live Cattle Futures Show Midday Gains Amid Quiet Cash Trade

Live cattle futures are making a modest recovery at midday. Contracts are up between $1.10 to $1.45 as April attempts to rise above the $100 mark. Cash trade has seen little activity this week, with initial bids at $200 in Kansas. The online Fed Cattle Exchange auction from Central Stockyards reported no sales from the 1,836 head listed, with bids remaining around $198. Meanwhile, feeder cattle are trading significantly higher, showing gains of $1.65 to $2.20. The CME Feeder Cattle Index increased by $2.59 on March 10, with the average price sitting at $276.54.

On Wednesday morning, National Wholesale Boxed Beef prices were up, narrowing the Choice/Select spread to $12.74. Choice boxes increased by a nickel to $321.25 per hundredweight, while Select rose by $1.65 to $308.51. The USDA estimated Tuesday’s federally inspected cattle slaughter at 124,000 head, bringing the weekly total to 239,000 head. This represents an increase of 14,000 head compared to the previous week and 5,152 head more than the same week last year.

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Apr 25 Live Cattle: $201.000, up $1.450

Jun 25 Live Cattle: $197.525, up $1.275

Aug 25 Live Cattle: $195.375, up $1.100

Mar 25 Feeder Cattle: $279.150, up $1.650

Apr 25 Feeder Cattle: $279.900, up $2.200

May 25 Feeder Cattle: $281.125, up $2.175

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 details, please view the Barchart Disclosure Policy here.

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