Live cattle are working on a turnaround on Wednesday with $0.47 to $1.10 losses midday. The feeders are trading $0.90 to $1 weaker at midday. USDA confirmed 13.4k head of cash cattle traded for last Thursday, with most near $172 (up $1-$2 for the week). Tuesday’s activity mostly consisted of collecting show lists. The 1/1 CME Feeder Cattle Index was $228.19, an increase of 18c.
The USDA Wholesale Boxed Beef morning quotes were listed at $281.77 cwt. for Choice and $259.24 cwt. for Select. That was a $2.57 drop in Select, while it was a 38c increase for Select. prices fell on Monday, with a $5.37/cwt average decline in Choice carcasses and a $1.47 loss for Select. FI cattle slaughter was 126k head for Tuesday, compared to 100k head last week. In both cases there was no activity during the Monday holidays.
Feb 24 Oxen is at $170,925, down $1,000,
April 24 Bulls is at $174.100, down $0.400,
Jun 24 Bulls is at $171.300, down $0.625,
Cash Livestock Index was $172,000, up from $170.00 last week
Jan 24 Feeder Cow is at $224,350, down $1,075
March 24 Feeder Cattle is at $225,425, down $1,025
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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