Live Cattle Futures Market News and Commentary
Live cattle futures close lower by $1.20 to $1.65 in the front months at the close. Feeder cattle came back from midday triple digit losses to close mixed. March feeders were 2 cents higher with deferred contracts down 50 to 80 cents lower. The CME Feeder Cattle Index for 02/19 was 85 cents higher to $141.95. Wholesale boxed beef prices were lower again on Thursday, but tightened the Chc/Sel spread to $2.90. Choice boxes were down by $1.07 to $204.50 cwt. While Select boxes were down 16 cents. Cash sales were reported in NE in the $119 to $120 range, with dressed sales at $190. The weekly price range is $119-$120 so far. USDA estimated FI cattle slaughter for the week at 474,000 head, which is 8,000 below last week’s pace.
Feb 20 Cattle closed at $120.100, down $1.200,
Apr 20 Cattle closed at $119.150, down $1.650,
Jun 20 Cattle closed at $110.925, down $1.375,
Mar 20 Feeder Cattle closed at $140.800, up $0.025
Apr 20 F... Read more