Live cattle futures closed Thursday with contracts up 87 cents to $1.30. 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 $235.50 on 447 of the 1,656 head offered, with other bids of $231-235. Feeder cattle futures were down 30 to 59 cents in the front months, with other contracts up a dime to 75 cents. 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).
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.
Census data from converted to a carcass basis showed 195.4 million lbs of beef exports in January, the lowest since 2016.
Wholesale Boxed Beef prices were higher in the Thursday afternoon report, with the Chc/Sel spread narrowing to $6.27. Choice boxes were up 39 cents to $397.09, while Select was $1.57 higher to $390.82. 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 closed at $231.250, up $1.100,
Jun 26 Live Cattle closed at $229.375, up $1.300,
Aug 26 Live Cattle closed at $227.275, up $1.100,
Mar 26 Feeder Cattle closed at $348.225, down $0.500,
Apr 26 Feeder Cattle closed at $343.000, down $0.300,
May 26 Feeder Cattle closed at $339.925, up $0.100,
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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