Live beef futures closed Thursday’s session with $0.77 to $1.05 gains, leaving the Feb contract at a net weekly gain of $1.22 so far. Eaters also pushed higher with $1.22 to $1.65 gains on Thursday. Low temperatures and snowfall have livestock health and transport on the front of market participants. USDA had minimal cash action on Wednesday, mostly near $175. The CME Feeder Cattle Index for was $227.75 on 1/10, back down 66 cents.
Export Sales data showed that 12,241 MT of beef was booked during the week that ended 1/4. Japan, South Korea and China were the main buyers.
USDA Wholesale Boxed Beef prices were $2.82 higher in Choice and $3 cwt. stronger in Select on Wednesday afternoon, leaving the Chc/Sel spread at $15.95. Federally inspected cattle slaughter for the week was listed at 424k head through Thursday, down 78k head from the same week last year.
Feb 24 Oxen closed at $171,800, up $1,050,
Apr 24 Oxen closed at $174.575, up $0.900,
Jun 24 Bulls closed at $171.975, up $0.875,
Jan 24 Feeder Cow closed at $226,275, up $1,650
March 24 Feeder Cattle closed at $227,400, up $1,275
As of the date of publication, Alan Brugler 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 for informational purposes only. For more information, please see Barchart’s Disclosure Policy here.
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