Live cattle futures pushed higher late on Thursday, with contracts closing 57 to 95 cents higher. Cash trade has been light with a few $234-235 sales. The Thursday Fed Cattle Exchange online auction showed no sales on the 1,024 head offered, as bids were still $233-235 live and $368 in the beef. Feeder cattle futures saw gains of $1.05 to $1.95 on the Thursday session. The CME Feeder Cattle Index was up $1.46 to $363.24 on March 24.
The Thursday update on the New World Screwworm from APHIS showed more active cases in the bordering state of Tamaulipas, Mexico, taking the total to 40 active. There was 1 new active case reported in Nuevo Leon.
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USDA’s Export Sales report from this morning showed 10,691 MT of beef sold in the week ending on 3/19, well above last week. Japan was the buyer of 2,900 MT, with 1,600 MT sold to Taiwan. Shipments were a 3-week high at 14,486 MT. Much of that was to Japan (4,800 MT), and South Korea (4,100 MT).
Wholesale Boxed Beef prices were lower in the Thursday afternoon report, with the Chc/Sel still an inverted $1.81. Choice boxes were down $1.84 to $389.84 while Select was $3.83 lower at $391.66. USDA estimated federally inspected cattle slaughter on Thursday at 97,000 head, with the weekly total at 412,000 head. That was down 2,000 head from last week but 73,357 head below the same week last year.
Apr 26 Live Cattle closed at $235.100, up $0.675,
Jun 26 Live Cattle closed at $234.800, up $0.950,
Aug 26 Live Cattle closed at $232.400, up $0.800,
Mar 26 Feeder Cattle closed at $363.525, up $1.650,
Apr 26 Feeder Cattle closed at $355.075, up $1.725,
May 26 Feeder Cattle closed at $351.750, up $1.700,
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.
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