Feeder Cattle Cash (GFY00)
Feeder Cattle Futures Market News and Commentary
Live cattle futures closed with losses of $1.57 to $2.32 in the front months. Feeder cattle futures also ended triple digits weaker, with front month losses of as much as $2.42. The Feb 26 CME Feeder Cattle Index was down another $1.57 to $138.04. Beef bookings from the weekly Export Sales report were 13,911 MT. Exports matched last week with 17,754 MT, putting accumulated shipments to 127,448 MT. That is 42.02% higher than last year’s pace. USDA dressed was trading at $180 to $183 on Thursday, with a few live trades in NE at $112-$114. Wholesale boxed beef prices were mixed in the afternoon update. Choice boxes were down by $0.80, and select boxes were $1.09 higher. USDA estimated WTD cattle slaughter at 487,000 head, which was 13,000 more than last week’s pace.
--- provided by Brugler Marketing & Management
- Coronavirus pushes markets, in general lower (again) as Japan issues state of emergency
Markets lower again overnight
- Cattle Prices Sharply Lower On Virus
- Redux: The February Break and Loss of Confidence
This month was the most bearish February in history.