Cattle Rebounding on Friday
Live cattle futures are rebounding on Friday, with contracts up 85 cents to $1.32. Cash action kicked off on Thursday, with Southern sales of $218-220, steady, and $229 in the north. Feeder cattle futures are showing gains of $1.20 to $2.20 at midday. The CME Feeder Cattle Index was down 24 cents on May 14, with the average price at $302.17.
USDA’s National Wholesale Boxed Beef report from Friday morning was higher, with the Chc/Sel spread tightening to $10.04. Choice boxes were up $3.18 $353.08, while Select was quoted $3.86 higher at $343.04 per hundred pounds. USDA’s Federally inspected cattle slaughter for Thursday was estimated at 120,000 head, with a weekly total at 459,000 head. That is down 10,000 head from the week prior and down 26,449 head from the same week last year.
Jun 25 Live Cattle are at $212.325, up $1.150,
Aug 25 Live Cattle are at $206.700, up $0.850,
Oct 25 Live Cattle are at $204.000, up $1.325,
May 25 Feeder Cattle are at $297.375, up $1.200
Aug 25 Feeder Cattle are at $298.025, up $2.200
Sep 25 Feeder Cattle are at $296.575, up $1.950
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.