Front month live cattle futures went home $0.40 to $1.20 higher on Wednesday. The weekly FCE auction saw no sales for the 887 head listed. Bids were $149.50-$150.50, but asks were $151-152. USDA reported midweek cash trade from $150 to $153 across all feeding regions on light to moderate volumes. In TX specifically, trade was mostly even with last week at $150. Feeder cattle futures closed the day back up by 2 to 62 cents, but stayed in a tighter range relative to the past 5 sessions. The CME Feeder Cattle Index was another 20 cents lower on 11/15 to $174.98.
USDA quoted Wholesale Boxed Beef prices as $257.09 cwt. for Choice and $231.35 for Select, as a $1.27 and $0.41 drop respectively from yesterday. USDA estimated the week’s FI cattle slaughter at 386k head through Wednesday, up by 5k head from last week.
Dec 22 Cattle closed at $151.800, up $0.525,
Feb 23 Cattle closed at $154.250, up $1.200,
Apr 23 Cattle closed at $157.725, up $1.000,
Nov 22 Feeder Cattle closed at $175.700, up $0.025
Jan 23 Feeder Cattle closed at $177.475, up $0.450
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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