Fat cattle futures are fading through Thursday with 45 to 82 cent losses. The Feb contract is 30c off the session low for midday. Feeders are down by $1.32 to $1.42 through midday. USDA confirmed 7.2k head of cattle were sold on Wednesday with most trades $2-$3 higher at $175. The 1/2 CME Feeder Cattle Index was $225.05, back down by $3.14.
USDA’s Wholesale Boxed Beef prices were mixed on Thursday morning, as Choice fell another $1.06 and Select was up by $1.37. That tightened the Chc/Sel spread to $16.75. The FI cattle slaughter for Wednesday was 128k head for a week to date total of 254k head. That compares to 258k head during the same week last year.
Feb 24 Cattle are at $171.100, down $0.750,
April 24 Cattle are at $174.300, down $0.450,
Jun 24 Cattle are at $171.575, down $0.400,
Cash Cattle Index was $172.000, from $170.00 last week
Jan 24 Feeder Cattle are at $225.025, down $1.050
Mar 24 Feeder Cattle are at $226.075, down $0.950
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