Cattle Falling on Friday
Live cattle futures are trading with $2.10 to $3.50 losses so far on Friday, as pressure from a weaker equity market is adding to a risk off approach. Cash trade has been reported at $235 in TX and $233-238 KS so far this week, with dressed action at $380 in the North and light $242 trade in NE. Feeder cattle futures are down $3.20 to $3.55 at midday on Friday. The CME Feeder Cattle Index was up $1.23 on June 11 with an average price of $315.85.
USDA’s National Wholesale Boxed Beef prices were higher on Friday morning, with the Chc/Sel spread at $13.22. Choice boxes were up another 35 cents at $377.07, while Select was quoted 78 cents higher at $363.85/cwt. USDA’s Federally inspected cattle slaughter for Thursday was estimated at 115,000 head, with the weekly total at 456,000 head. That is 21,000 head below the week prior and 32,969 head below the same week last year.
Jun 25 Live Cattle are at $226.100, down $2.100,
Aug 25 Live Cattle are at $213.575, down $3.375,
Oct 25 Live Cattle are at $211.000, down $3.350,
Aug 25 Feeder Cattle are at $307.875, down $3.375
Sep 25 Feeder Cattle are at $307.175, down $3.375
Oct 25 Feeder Cattle are at $304.900, down $3.550
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.