Live cattle futures are showing steady trade on Friday, with contracts within 15 cents of unchanged. Cash trade has been mostly $372 dressed as well as a few live sales of $235-236. The Thursday morning Fed Cattle Exchange online auction showed sales of $235-236 on 183 of the 762 head offered, with other bids of $230-235. Feeder cattle futures are showing 35 cent to $1.57 losses in the front months. The CME Feeder Cattle Index was down another $3.83 to $360.97 on March 11.
The weekly APHIS update on New World Screwworm showed 9 new cases (7 in cattle) in the Mexican state of Tamaulipas, which took the total to 23 active cases in the bordering state (15 in cattle).
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Export Sales data showed a total of 25,443 MT of beef sold in the week ending on March 5, which was the largest sales total since February 2023. South Korea was the buy 11,600 MT in that week, with 5,900 MT to Japan. Shipments were the lowest for the calendar year at 11,427 MT.
Wholesale Boxed Beef prices were higher in the Friday morning report, with the Chc/Sel spread at $6.39. Choice boxes were up 16 cents to $397.25, while Select was 4 cents higher to $390.86. USDA estimated federally inspected cattle slaughter for Thursday at 108,000 head, with the week to date total at 425,000 head. That is down 8,000 from the previous week and 57,938 head shy of the same week last year.
Apr 26 Live Cattle are at $231.375, up $0.125,
Jun 26 Live Cattle are at $229.350, down $0.025,
Aug 26 Live Cattle are at $227.225, down $0.050,
Mar 26 Feeder Cattle are at $349.800, up $1.575
Apr 26 Feeder Cattle are at $343.950, up $0.950
May 26 Feeder Cattle are at $340.275, up $0.350
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.
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