So far the cattle market is back up by 10 cents to $1.20. Feeders are down by $0.72 to $1.40 at midday. USDA mentioned the week’s bulk price was mostly $150 in the South and $153 in the North. USDA’s OKC feeder cattle auction review showed 10k head were sold mostly from $1-2 lower. The CME Feeder Cattle Index was $175.23 on 11/11, down by another 23 cents.
Wholesale Boxed Beef prices were mixed in the AM report, with a $1.39 increase in Choice and a 36 cent drop in Select. USDA estimated Monday’s FI cattle slaughter at 128k head. That is up from 123k head last week and from 121k head during the same week last year.
Dec 22 Cattle are at $151.850, up $0.275,
Feb 23 Cattle are at $153.650, up $1.100,
April 23 Cattle are at $157.250, up $0.825,
Nov 22 Feeder Cattle are at $176.250, down $0.700
Jan 23 Feeder Cattle are at $177.850, down $1.600
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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