Live cattle futures are 72 cents to $1.10 lower on Tuesday. Cash trade was picked up last week at $248 across the country. Early action this week has been quiet with a few bids of $246 floating around in KS. Feeder cattle futures are down $1.05 to $2.05 at midday. The CME Feeder Cattle Index was down $1.98 to $375.69 on April 17. The OKC feeder cattle auction had 5,867 head sold with feeders steady to $2-4 lower.
Wholesale Boxed Beef prices were lower in the Tuesday report, with the Chc/Sel at $2.01 premium for select. Choice boxes were up $3.49 to $387.05, while Select was $5.45 higher at $389.06. USDA estimated federally inspected cattle slaughter at 97,000 head for Monday. That is down 7,000 head from last week but 6,945 head below the same week last year.
Apr 26 Live Cattle are at $248.500, down $1.100,
Jun 26 Live Cattle are at $245.000, down $1.075,
Aug 26 Live Cattle are at $240.875, down $0.725,
Apr 26 Feeder Cattle are at $366.850, down $2.025
May 26 Feeder Cattle are at $359.700, down $1.400
Aug 26 Feeder Cattle are at $360.300, down $1.050
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.