Live Cattle Futures Market News and Commentary
Front month cattle futures are down by 90c to $2.20 and continue the pullback for the week. There were no confirmed cash trades on Monday, with cash trade last week mostly $174-$175. Midday feeder cattle futures are trading 47 to 50 cents in the red, save for the 27c gain in the Jan contract. USDA’s OKC Feeder Auction Review had 12.3k head sold mostly at a $1-$3 loss ($4-$9 loss for the calves) – broken down by 59% steers and 41% 600+ lb. The 12/04 CME Feeder Cattle Index firmed up by 51 cents to $223.78.
USDA’s Wholesale Boxed Beef price report had Choice another $2.31 weaker to $291.44 and Select up by 58 cents to $259.71. USDA reported the FI cattle slaughter at 126k head for Tuesday. That set the week’s total to 251,000 head, compared to 248k last week and 254k during the same week last year.
Dec 23 Cattle are at $167.000, down $1.500,
Feb 24 Cattle are at $167.025, down $1.950,
April 24 Cattle are at $170.075, down $1.425,
Cash Cattle Index wa... Read more