Live Cattle Futures Decline Amid Slow Cash Trade

Live cattle futures experienced a downturn of 30 to 55 cents in the nearby contracts on Friday. The cash market remained sluggish this week, with a lone sale recorded at $222 in Iowa this morning. Furthermore, the Central Stockyards Fed Cattle Exchange’s online auction, featuring 1,328 head listed, reported no sales and bids ranging from $206 to $210. Feeder cattle futures also showed midday weakness as they approached the weekend, with contracts decreasing by 17 cents to $1.075. The CME Feeder Cattle Index rose by 77 cents to $287.67 on March 26.

Mixed Beef Prices Reported

The USDA’s National Wholesale Boxed Beef report revealed mixed results again on Friday morning, with the Choice/Select spread narrowing to $13.03. Choice boxed beef saw a decline of $2.33, priced at $333.39 per hundredweight (cwt), while Select beef increased by 92 cents to reach $320.36. The USDA’s Thursday report estimated the federally inspected cattle slaughter at 119,000 head, bringing the total for the week to 485,000 head. This number surpasses last week’s total by 45,000 head and exceeds the same week from the previous year by 4,764 head.

Current Cattle Futures Prices

Apr 25 Live Cattle: $209.225, down $0.325

Jun 25 Live Cattle: $205.275, down $0.525

Aug 25 Live Cattle: $201.325, down $0.475

Apr 25 Feeder Cattle: $287.375, down $0.175

May 25 Feeder Cattle: $285.450, down $1.075

Aug 25 Feeder Cattle: $289.900, down $0.750

On the date of publication, Austin Schroeder did not hold (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.

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