Feeder Cattle Futures Market News and Commentary
Live cattle are up by as much as 40 cents so far for the week’s last trade day. USDA confirmed some Thursday cash trade from $152 to $155, though volumes remain too light to establish a trend for the week. Nearby feeder cattle futures are trading with midday gains of 25 to 55 cents. The CME Feeder Cattle Index for 1/25 was $1.20 higher at $178.80.
USDA’s Wholesale Boxed Beef prices were weaker in the AM report for Friday with Choice down by 21 cents and Select $1.16 weaker. That had the Chc/Sel spread at $18.22 for the AM quote. Federally inspected cattle slaughter for the week was estimated as 504k head through Thursday. That remains 11k head above last week’s pace and is 24k head above the same week last year.
Feb 23 Cattle are at $156.825, up $0.100,
April 23 Cattle are at $160.925, up $0.400,
Jun 23 Cattle are at $157.825, up $0.450,
Cash Cattle Index was $156.000, from $156.00 last week
Mar 23 Feeder Cattle are at $183.500, up $0... Read more