Front month fat cattle futures are off their highs for midday, though are still up by $0.10 to $0.65. USDA had the bulk of the week’s cash sales near $173-$175 for the North. Feeder cattle futures are working $0.65 to $1.62 in the black at midday. The weekly OKC Feeder Auction review showed 14.5k head were sold with 50% steers and 45% heifers. That limited the March contract’s weekly gain to $1.05. The March contract is at a net $1.25 gain for the week. The 1/4 CME Feeder Cattle Index was $228.09, back down by 56 cents.
USDA’s Wholesale Boxed Beef prices were mixed on Monday morning, with a $1.18 gain in Choice and a 10c drop in Select. USDA reported the week’s beef production at 470.3m lbs, a 0.8% lead over the start to last year. FI slaughter was shown at 556k head for the week, a 1.6% decrease implying heavier weights compared to last year.
Feb 24 Cattle are at $171.150, up $0.575,
April 24 Cattle are at $173.600, up $0.200,
Jun 24 Cattle are at $170.700, up $0.150,
Cash Cattle Index was $172.000, from $- last week
Jan 24 Feeder Cattle are at $224.500, up $1.375
Mar 24 Feeder Cattle are at $225.625, up $1.475
On 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 solely for informational purposes. For more information please view the Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
