Cattle closed the Tuesday session with $0.52 to $00.92 gains. That pushed futures to net gains for the weekly move. Feeders now have a green candle on the weekly chart as well after $0.72 to $1.32 gains for Tuesday. USDA reported minimal cash action on Tuesday, near $183 in TX. The week’s trade has yet to be established. USDA’s OKC Feeder Auction review showed prices were $3 to $8 higher for the 6.5k head sold. The 3/11 CME Feeder Cattle Index was $248.26, up by 2 cents.
USDA reported Wholesale Boxed Beef prices were $1.71 stronger in Choice and 72 cents higher in Select on Tuesday afternoon. Federally inspected cattle slaughter was reported at 122k head for a 233k head total for the week. That compares to 238k head last week and to 248k head vs the same week last year.
Apr 24 Cattle closed at $188.250, up $0.650,
Jun 24 Cattle closed at $183.950, up $0.925,
Aug 24 Cattle closed at $182.800, up $0.750,
Mar 24 Feeder Cattle closed at $248.975, up $0.725
Apr 24 Feeder Cattle closed at $254.125, up $1.025
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