Cattle Posting Mixed Action on Wednesday
Live cattle are trading with losses of 10 to 25 cents on Wednesday. There were no deliveries for April live cattle on Tuesday. Early cash bids on Wednesday are coming in at $200 in the South and $205-208 in the North. This morning’s Central Stockyards Fed Cattle Exchange showed no sales on the 1,450 head offered, with bids of $200 to $206.50.
Feeder cattle futures are posting some strength on a Wednesday rebound up 27 cents to $2.25. The CME Feeder Cattle Index was back up 53 cents on Monday, with the average price at $290.53.
The addition 50% tariffs on China went into effect overnight, taking the new total to 104% on all Chinese goods. China retaliated with a 50% increase on US goods, taking to total to 84% to be implemented on Thursday.
USDA’s National Wholesale Boxed Beef prices were mixed again on Wednesday morning, as the Chc/Sel widened back out to $18.32. Choice boxes were up $1.56 at $339.66/cwt, with Select 72 cents lower to $321.34. Tuesday’s Federally inspected cattle slaughter was estimated at 122,000 head by the USDA, bringing the weekly total to 226,000 head. That was 1,000 head below the previous week and down 17,810 head from the same week last year.
Apr 25 Live Cattle are at $199.000, down $0.100,
Jun 25 Live Cattle are at $193.400, down $0.225,
Aug 25 Live Cattle are at $190.250, down $0.200,
Apr 25 Feeder Cattle are at $282.025, up $1.600
May 25 Feeder Cattle are at $273.950, up $2.225
Aug 25 Feeder Cattle are at $277.875, up $0.275
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.