Feeder Cattle Futures Market News and Commentary
Fat cattle futures are trading with triple digit gains through April ’23. The deferred contracts are also 0.3% to 0.5% higher so far. Feeders are trading mixed but mostly higher within 20 cents of UNCH. USDA confirmed some Southern trade near $154 on Thursday, but the Southern deals remain limited for the week. Northern trade was mostly near $156 this week. The 12/07 CME Feeder Cattle Index was 21 cents higher to $179.23.
Wholesale Boxed Beef prices are higher in USDA’s AM report, with Choice 66 cents stronger and Select 71 cents stronger for a $26.68 Chc/Sel spread. USDA estimated the week’s FI cattle slaughter at 508k head through Thursday. That is down 4k head from last week’s pace by up by 21k head from the same week last year.
Dec 22 Cattle are at $153.700, up $1.275,
Feb 23 Cattle are at $155.400, up $1.475,
April 23 Cattle are at $159.225, up $1.175,
Jan 23 Feeder Cattle are at $183.725, up $0.250
Mar 23 Feeder Cattle are at... Read more