Live Cattle Futures Market News and Commentary
Fat cattle futures are currently up by 22 to 70 cents, with Dec just USDA confirmed 16k head of cash cattle sales on Tuesday, mostly from $182 - $184. The 9/29 CME Feeder Cattle Index was $252.21 after a 10c increase.
USDA saw Wholesale Boxed Beef prices lower in the AM update. Choice was $2.11 weaker to $297.96, and Select fell 60c to $274.99. report had Choice $3.01 lower and Select $1.39 cents weaker in the PM. USDA’s federally inspected cattle slaughter was estimated at 128,000 head for Tuesday. That has the week-to-date pace at 253k head – trailing LW by 2k and the same week last year by 5k head.
Oct 23 Cattle are at $182.475, up $0.350,
Dec 23 Cattle are at $185.950, up $0.300,
Feb 24 Cattle are at $190.275, down $0.025,
Cash Cattle Index was $184.000, from $183.00 last week
Oct 23 Feeder Cattle are at $248.400, down $0.200
Nov 23 Feeder Cattle are at $250.550, up $0.200On the date of publication, Alan Brugler did... Read more