Fat cattle rallied into the report on Friday, and added to the gains out of the weekend after digesting NASS’s numbers. At the close futures were $0.47 to $1.17 higher in the front months. USDA reported limited to no cash trade on Monday. Friday’s catch up cash trade was mostly near $155 and in the WCB. The week’s bulk price was mainly $150-151 in the South and $154-$155 in the North.
Feeder cattle futures closed $1.82 to $1.97 higher on Monday. USDA showed 9,250 head of feeder cattle were sold in the weekly OKC auction, a light dip in volume from last week. Prices were mostly steady, with lightweights seeing a $3-$6 boost with 78% of the sale under 600 lbs. The CME Feeder Cattle Index for 11/18 was $174.64, down by 72 cents.
Wholesale Boxed Beef prices from USDA’s Monday afternoon report were $255.57 in Choice and $233.23 for Select – a 70 cent and 40 cent increase respectively. USDA estimated Monday’s federally inspected cattle slaughter at 128k head. That was even with last week but up 6k head from the same Monday last year.
Dec 22 Cattle closed at $153.550, up $0.475,
Feb 23 Cattle closed at $156.725, up $0.875,
Apr 23 Cattle closed at $160.125, up $0.875,
Jan 23 Feeder Cattle closed at $182.625, up $1.850
Mar 23 Feeder Cattle closed at $185.100, up $1.975
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.
/Intel%20Corp_%20Santa%20Clara%20campus-by%20jejim%20via%20Shutterstock.jpg)
/The%20CrowdStrike%20logo%20on%20an%20office%20building%20by%20bluestork%20via%20Shutterstock.jpg)
