Live Cattle Feb '21 (LEG21)
Live Cattle Futures Market News and Commentary
Live cattle futures are trading mostly lower, within a dime of UNCH. August contracts are UNCH at $116.37, and April is 32 cents higher so far. Cash cattle sales have yet to surface through Tuesday; there were reports of some early asks in the South for $116, but sales had been $114 for the last 3 weeks. Feeder cattle are trading down by triple digits so far with a $1.35 loss for April the strongest move. The 2/25 CME Feeder Cattle Index was $138.91, down from $139.48.
Wholesale Boxed Beef prices were lower in the AM report, tightening the Chc/Sel spread to $10.42. Choice boxes were $236.96 cwt, down by $2.07. Select boxes were $226.54 after a $1.10 drop. USDA estimates Monday’s FI cattle slaughter at 120k head. That is up from 19 LW but trails the 123k head kill the same Monday LY.
--- provided by Brugler Marketing & Management
Live Cattle Prices by Barchart
Feeder Cattle Prices by Barchart
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