Live cattle futures firmed up after a red midweek trade, erasing yesterday’s action and going home back up by $0.72 to $1.50 in the front months. USDA reported cash sales from $149 to $150 in the South on Thursday and at $153 in the North. Feeder cattle futures closed the day up by 0.5% to 1.15% with $2 gains in the early ’23 months. The 11/8 CME Feeder Cattle Index was $176.30, down by 29 cents.
FAS reported 13,724 MT of beef bookings in their weekly Export Sales report. That was up 49% from the week prior, but was down 34% from the same week last year. Shipments were 18,088 MT on the week, for a yearly total of 807k MT – record pace.
Wholesale Boxed Beef prices were mixed in the PM report with Choice down by $1.4 and Select $1.61 higher. USDA estimated the week’s FI cattle slaughter through Thursday at 510k head, down 3k from last week, but 27k head above the same week last year’s pace.
Dec 22 Cattle closed at $153.075, up $1.500,
Feb 23 Cattle closed at $155.025, up $0.875,
Apr 23 Cattle closed at $158.500, up $0.725,
Nov 22 Feeder Cattle closed at $178.625, up $0.900
Jan 23 Feeder Cattle closed at $181.700, up $2.050
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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