Live Cattle Futures See Gains Amid Quiet Cash Trade
Live cattle futures are experiencing continued strength on Thursday, with prices rising between 25 cents and $1.075. The cash trade has remained quiet this week, as seen in this morning’s Fed Cattle Exchange online auction from Central Stockyards, where no sales occurred among the 1,346 head listed. Bids were reported at $207-207.50.
Feeder cattle futures also showed positive movement, increasing by 50 cents to $1 at midday on Thursday. The CME Feeder Cattle Index registered a rise of 19 cents on April 22, placing the average price at $288.97.
USDA Reports Decline in Beef Export Bookings
The USDA’s recent report indicated a decrease in beef export bookings, which fell to 10,336 metric tons (MT) for the week ending April 17, marking a three-week low. Notably, South Korea was the largest buyer with 3,200 MT, followed by Japan with 1,900 MT. For shipments, the total reached 13,200 MT, the second lowest of the marketing year. South Korea retained the top destination, receiving 4,900 MT, while Japan imported 3,400 MT.
National Wholesale Boxed Beef Report
The USDA’s Thursday morning National Wholesale Boxed Beef report reflected a rise. Specifically, the Choice/Select spread increased, with Choice boxes up $1.38 at $333.35 per cwt, while Select boxes decreased by $1.40 to $315.92. The federally inspected cattle slaughter was estimated at 122,000 head for Wednesday, bringing the weekly total to 350,000 head. This figure is 7,000 head lower compared to the previous week and down 13,747 head from the same week last year.
Current Live and Feeder Cattle Prices
Apr 25 Live Cattle: $213.775, up $1.075
Jun 25 Live Cattle: $208.350, up $0.250
Aug 25 Live Cattle: $204.300, up $0.425
May 25 Feeder Cattle: $289.350, up $1.000
Aug 25 Feeder Cattle: $292.700, up $0.525
Sep 25 Feeder Cattle: $291.775, 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
