Thursday’s triple digit pullback for Feb cattle flipped the contract to net weaker for the week. Prices are down $0.75 to $1.15 across the front month contracts, with Feb now 25c below last Friday’s settle. Feeder cattle are also down by triple digits, with a $2 loss for the March contract. USDA reported minimal cash trading activity so far for the week. The 12/26 CME Feeder Cattle Index was $220.51, up by 52 cents.
USDA’s Wholesale Boxed Beef prices fell in the Thursday morning update. Choice was down by $4.85 to $286.63, while Select dropped by 64 cents to $259.68. were shown at $291.48 for Choice and $260.32 for Select on Wednesday afternoon. That was a $1.83 drop for Choice and was 87 cents weaker for Select. Federally inspected cattle slaughter for the week through Wednesday was estimated at 225k head, compared to 256k head during the same week last year.
Feb 24 Cattle are at $168.300, down $0.975,
April 24 Cattle are at $171.800, down $1.175,
Jun 24 Cattle are at $169.800, down $0.900,
Cash Cattle Index was $170.000, from $170.00 last week
Jan 24 Feeder Cattle are at $222.575, down $1.900
Mar 24 Feeder Cattle are at $223.300, down $2.100
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