Feeder Cattle Futures Market News and Commentary
Live cattle futures posted their own Turnaround Tuesday, with losses of 17 to 65 cents in most contracts. Cash trade saw a little action at $138 in the south on Tuesday with dressed sales of $226-227 reported in the north. Tuesday’s Fed Cattle Exchange online auction saw 1 lot of CA steers sell for $135.25, with most asks ranging from $139-142 and bids hitting $138-138.50. Feeders were down 22 cents to $1.05 on Tuesday. The CME Feeder Cattle Index was down 73 cents to $155.27 on 5/16.
Wholesale Boxed Beef prices were higher on Tuesday afternoon, with Choice up 17 cents to $260.48 and Select $2.52 higher at $248.19. The Chc/Sel spread narrowed to $12.29. USDA estimated FI cattle slaughter at 249,000 head for the WTD through Tuesday, that is up 3,000 wk/wk and 15,000 head larger yr/yr.
Jun 22 Cattle closed at $133.000, down $0.175,
Aug 22 Cattle closed at $133.475, down $0.425,
Oct 22 Cattle closed at $139.525, down $0.325,
May 22 Feeder Cattle clos... Read more