Feeder Cattle (P) Futures PricesMon, Mar 2nd, 2015
Latest Brugler Feeder Cattle (P) Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Live cattle and feeder futures posted solid gains yesterday. Cash cattle sales were slim last week and quiet to start this week. The CME feeder cattle index for Friday was $206.24, down $1.48. Monday FI Slaughter was estimated at 109K head, up from only 99K a week ago but down from 113K a year ago. The Choice boxed beef average price in the afternoon report was $248.67, up $1.09 from Friday, but Select prices averaged 12 cents lower. Tightening supplies are not just a US phenomenon: The cattle herd in Australia is expected to hit a 20-year low by June due to extended drought, according to an Australian government report. The authors suggest the third largest beef exporter will ship 1.16 MMT in the year starting July 1, down from 1.2 MMT in this marketing year, as slaughter drops by more than 6% to 8.9 million head. The report also predicts shipments to the US - important for hamburger supplies – could slump by 10% to 380K metric tons.
InsideFutures Meats News