Live Cattle (P) Futures PricesTue, Apr 22nd, 2014
Latest Brugler Live Cattle (P) Report
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Cattle futures are trading $0.25 to $0.75 higher. Preliminary OI was up 712 contracts yesterday, light new buying. Week to date slaughter is 14K head less that last week, and 25K head less than last year. Wholesale beef prices are higher with choice boxes up $2.15 at $231.21 while select boxes were up $1.55 at $219.62. The choice/select spread is at $11.58. In the Tuesday USDA Cold Storage report USDA announced beef in cold storage at 404.754 million lbs on March 31, which is down 20.82% from the 511.233 million lbs figure in 2013. The total was 1% smaller than last month. The monthly Cattle on Feed report will be released on Friday. April 1 inventory is expected to be 100.4% of year ago. The CME Feeder Cattle Index was down $1.44 at $177.13.
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