Live cattle futures are up $1.17 to $1.90 so far on Friday. Cash trade has been quiet so far this week, with a few $234-235 sales in the North. The Thursday morning Fed Cattle Exchange online auction showed $370 dressed sales on just 38 of the 1,026 head offered, with other bids of $233-235. Feeder cattle futures are in rally mode, up $3.50 to $3.80. The CME Feeder Cattle Index was up $2.37 to $360.69 on March 18.
The Thursday update from APHIS showed a total of 1,194 active cases of new world screwworm in Mexico, with 34 active cases in the bordering state of Tamaulipas.
Cattle on Feed data will be released this afternoon, with traders looking for placements in February to be up 0.2% from last year and marketings down 7.4%. March 1 on feed is seen down 0.7% yr/yr.
Wholesale Boxed Beef prices were lower in the Friday morning report, with the Chc/Sel spread at $7.64. Choice boxes were down 12 cents to $400.42, while Select was 33 cents lower to $392.78. USDA estimated federally inspected cattle slaughter for Thursday at 106,000 head, with the week to date total at 414,000 head. That is down 8,000 head from last week and 25,126 head below the same week last year.
Apr 26 Live Cattle are at $234.450, up $1.175,
Jun 26 Live Cattle are at $233.525, up $1.825,
Aug 26 Live Cattle are at $231.000, up $1.900,
Mar 26 Feeder Cattle are at $359.075, up $3.800
Apr 26 Feeder Cattle are at $351.475, up $3.725
May 26 Feeder Cattle are at $346.925, up $3.500
