Fats Leading the Bull Charge on Friday
Live cattle futures are up another 75 cents to $2 so far on Friday. Cash trade saw action increase to $230-232 sales in the South. North action has been $240-242. Feeder cattle futures are mixed, with August up 7 cent and other nearbys down 22 to 35 cents. The CME Feeder Cattle Index was up $1.35 on June 4 with an average price of $304.86.
USDA’s National Wholesale Boxed Beef prices were mixed again on Friday morning, narrowing the Chc/Sel spread to $8.78. Choice boxes were back down $1.36 at $365.49, while Select was quoted 10 cents higher at $356.51/cwt. USDA’s Federally inspected cattle slaughter for Thursday was 120,000 head, with the week to date total at 477,000 head. That is down 7,727 head from the same week last year.
Jun 25 Live Cattle are at $224.900, up $2.000,
Aug 25 Live Cattle are at $218.175, up $1.350,
Oct 25 Live Cattle are at $214.725, up $0.750,
Aug 25 Feeder Cattle are at $309.225, up $0.075
Sep 25 Feeder Cattle are at $308.075, down $0.225
Oct 25 Feeder Cattle are at $305.750, down $0.325
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.
