Feeder Cattle Jan '23 (GFF23)
Feeder Cattle Futures Market News and Commentary
At the close for Tuesday, live cattle futures were down by 25 to 90 cents. The feeder cattle market closed 40 to 72 cents lower across the front month futures. USDA reported some light cash trade in KS at $159. The weekly FCE auction listed 1,346 head for Tuesday, but saw no sales between $156-$158 bids and $160+ asks. USDA’s OKC Feeder Cattle Auction review showed prices were primarily $6-10 higher with solid volume. The 2/06 CME Feeder Cattle Index was $182.23 up by 94.
Converted Census data showed 266.2m lbs of beef was shipped out in December. That finished the record export year of 2022 with 3.536 billion lbs – a 106m lb (3%) beat from the previous record.
Wholesale Boxed Beef prices from USDA’s PM report were 15 cents stronger in Choice and $3.61 higher for Select. That had the Chc/Sel spread at $9.39, its tightest since May of 2022. USDA estimated Tuesday’s FI cattle slaughter as 126,000 head. That set the week to date running total at 246k, a 2k lag from last w... Read more
- Shootin' the Bull about new contract highs
Most contract months equaled, or barely exceeded Monday's contract high. Although there remains a few more days before the seasonality kicks in, the...
- Hogs Close Firm on Tuesday
The April lean hog contract saw a $2.80 range from -$1.78 to +$1.02, before closing firm at a 55 cent gain. The other front month futures ended 10 to 40...
- Cattle Dip on Tuesday
At the close for Tuesday, live cattle futures were down by 25 to 90 cents. The feeder cattle market closed 40 to 72 cents lower across the front month...
- Livestock Report
Hogs make new low
- Ag Markets Under Pressure
Agricultural markets were under pressure today, with grains and cattle trading mostly lower. Lean hogs managed to squeak out a rare positive session.
- Hog Prices Mixed but Mostly Red through Midday
The front month hog futures market is mixed with 22 and 62 cent gains in the Feb and April contracts respectively. The other nearby contracts are 17 to...