Live cattle futures are trading with 47 cent gains in nearby February, with other contracts slightly lower. Cash trade remains quiet so far this week. There are a few bids of 238 in the North this morning. The Friday morning Fed Cattle Exchange online auction showed sales on 138 head at $246 using the BidTheGrid™ method and 40 head at $378 dressed. The other 1,094 head were unsold, with bids of $240-241. Feeder cattle futures are up 57 cents in March, with other contracts down 10 to 55 cents. The CME Feeder Cattle Index was back down 49 cents to $373.87 on February 11. The markets will be closed on Monday for President’s Day.
The Thursday APHIS update on the New World Screwworm showed just one new active case in Tamaulipas this last week, taking the total active cases to 3 in that bordering state.
Wholesale Boxed Beef prices were mixed in the Friday morning report, with the Chc/Sel spread at $1.10. Choice boxes were down 45 cents to $364.39, while Select was 26 cents higher at $363.29. USDA estimated federally inspected cattle slaughter for Thursday at 115,000 head, with the weekly total at 454,000 head. That is 4,000 head above last week but 745 head below the same week last year.
Feb 26 Live Cattle are at $242.975, up $0.475,
Apr 26 Live Cattle are at $240.575, down $0.075,
Jun 26 Live Cattle are at $236.175, down $0.075,
Mar 26 Feeder Cattle are at $366.300, up $0.575
Apr 26 Feeder Cattle are at $363.525, down $0.100
May 26 Feeder Cattle are at $359.375, down $0.525
