Live Cattle Feb '23 (LEG23)
Live Cattle Futures Market News and Commentary
Front month feeder cattle futures rallied 0.96% to 1.4% on the day, leaving the Jan contract at a net $2.17 gain for the week thus far. Live cattle also traded higher, gaining 27 to 87 cents on the day. Feb fats sit with a 55 cent gain for the week to date. Central Stockyard’s FCE had 1,506 head listed with no sales between $155 bids and $155/156 asks. USDA confirmed some light $155 trade in the South on Wednesday, with Northern deals from $157-158 (steady to +$3) and $245 in the beef. The 11/29 CME Feeder Cattle Index was $178.40, down by 45 cents.
Wholesale Boxed Beef prices were mixed in the PM report with Choice 14 cents stronger and Select 81 cents weaker. USDA has the week to date cattle slaughter estimated at 384k head. That is down 2,000 from last week but up from 369k during the same week last year.
Dec 22 Cattle closed at $153.075, up $0.400,
Feb 23 Cattle closed at $155.675, up $0.875,
Apr 23 Cattle closed at $159.275, up $0.700,
- Feeders Lead Cattle Rally on Wednesday
Front month feeder cattle futures rallied 0.96% to 1.4% on the day, leaving the Jan contract at a net $2.17 gain for the week thus far. Live cattle also...
- Hogs Recover Ground on Wednesday
Lean hog futures recovered 40 cents to $1.82 across the front month contracts on Wednesday. That still leaves Feb with a net $3.15 draw down for the week...
- Shootin' the Bull about Squeezing
The squeeze is believed to have begun. Fat futures were lackluster in comparison to feeder cattle. I continue to believe there is ample cattle on feed...
- TFM Closing Commentary 11-30-2022
TFM Cash+ Take the Stress Out of Your Marketing Strategy. No hedge account. No margin calls. Just comprehensive, common-sense guidance at a great value....
- Livestock Report
Hogs show strength
- Cattle Commentary
Cattle markets traded higher today on news that there maybe higher cash prices being traded in the mid to high $150s. With the cash cattle market likely...