Live cattle futures are down 90 cents to $1.15 at midday. Open interest was up 1,066 contracts on Wednesday. Cash trade has yet to get kicked off this week, with $232 bids on Thursday. The Thursday Fed Cattle Exchange online auction showed bids of $232 to $233.50 but no sales on the 1,510 head. Feeder cattle futures are up $1 in expiring January, with other contracts down 25 cents to $1.The CME Feeder Cattle Index was back down $0.74 to $363.99 on January 27.
Export Sales data showed 16,893 MT of beef sold in the week of 1/22, the largest since November. Beef shipments were 12,574 MT in that week.
Census trade data from this morning showed beef exports on a carcass basis at 190.4 million lbs in November, the lowest since 2009. On a tonnage basis, beef imports were down 1.2% from last year at 151,316 MT.
USDA’s wholesale Boxed Beef report from Thursday morning was lower, with the Chc/Sel spread widening to $9.15. Choice boxes were down 21 cents $369.53, while Select was $3.19 lower at $360.38. Wednesday’s USDA federally inspected cattle slaughter was estimated at 112,000 head, with the weekly total at 324,000 head. That was 9,000 head below last week and 37,711 head shy of the same week last year.
Feb 26 Live Cattle are at $235.675, down $1.150,
Apr 26 Live Cattle are at $237.625, down $1.100,
Jun 26 Live Cattle are at $233.525, down $0.925,
Jan 26 Feeder Cattle are at $369.100, up $1.000
Mar 26 Feeder Cattle are at $365.500, down $0.350
Apr 26 Feeder Cattle are at $363.525, down $0.775
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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