Cattle Continuing Gains on Thursday
Live cattle futures are extending the recent strength on Thursday with gains of 25 cents to $1.075. Cash trade has been quiet so far this week. This morning’s Fed Cattle Exchange online auction from Central Stockyards showed no sales on the 1,346 head listed, with bids at $207-207.50. Feeder cattle futures are up 50 cents to $1 at Thursday’s midday. The CME Feeder Cattle Index was up 19 cents on April 22, with the average price at $288.97.
USDA reported beef export bookings dropping back off to 10,336 MT in the week of 4/17, a 3-week low. South Korea was the buyer of 3,200 MT, with 1,900 MT to Japan. Shipments came in at 13,200 MT, the second lowest for the marketing year. The top destination was South Korea at 4,900 MT, with 3,400 MT to Japan.
USDA’s Thursday morning National Wholesale Boxed Beef report was higher, as the Chc/Sel was at $17.43. Choice boxes were $1.38 higher at $333.35/cwt, with Select down $1.40 to $315.92. Federally inspected cattle slaughter was estimated at 122,000 head for Wednesday, taking the weekly total to 350,000 head. That is 7,000 head below the previous week and down 13,747 head from the same week last year.
Apr 25 Live Cattle are at $213.775, up $1.075,
Jun 25 Live Cattle are at $208.350, up $0.250,
Aug 25 Live Cattle are at $204.300, up $0.425,
May 25 Feeder Cattle are at $289.350, up $1.000
Aug 25 Feeder Cattle are at $292.700, up $0.525
Sep 25 Feeder Cattle are at $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.