Both the fats and the feeders are down by 1% in a midweek cattle market selloff. Front month fat cattle are $0.97 to $2.05 weaker. There remain no deliveries agains the Feb contract. Feeders are dropping by as much as $3.92 across the front months. Cash trade last week hovered around the $180-183 range, with most exchanging hands around $182. The CME Feeder Cattle Index was up 81 cents on February 12 to $246.87.
USDA’s Wholesale Boxed Beef prices were mixed in the midweek AM report as Choice was 18 cents stronger to a $1.18 weaker Select quote. The Chc/Sel spread widened back to $8.33. USDA estimated FI cattle slaughter at 125,000 head for Tuesday, which brought the week-to-date total to 240,000 head. That is down 10,000 head from last week and was 8,835 head behind the same week last year.
Feb 24 Cattle are at $182.700, down $1.050,
April 24 Cattle are at $183.375, down $1.725,
Jun 24 Cattle are at $180.675, down $1.875,
Cash Cattle Index was $182.000, from $178.74 last week
Mar 24 Feeder Cattle are at $244.700, down $3.300
April 24 Feeder Cattle are at $248.250, down $3.500
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