Nearby cattle futures are trading 32 to 47 cents weaker. USDA confirmed cash sales were mostly near $154-155 in the South (+$3) and $156-158 in the North last week. Front month feeder cattle futures are mixed but mostly lower with losses of 5 to 52 cents so far in the nearby contracts – though May is 15 cents in the black. The USDA’s OKC Feeder Auction review showed lighter volume of 6.5k head (53% Steers, 75% under 600#) compared to 8.7k last week and 10.8k during the same week last year. The 11/24 Feeder Cattle Index from CME was 66 cents lower to $173.63.
USDA cited the Wholesale Boxed Beef prices as $254.83 in Choice and $233.02 in Select this morning. That was a $3 increase and a $1.35 decrease respectively. USDA estimated the week’s cattle slaughter at 581k head for the week through Saturday. That is down from last week due to the holiday, but up 13k head from the same week last year. YTD slaughter remains 1.6% ahead of last year’s pace with 30.633m head.
Dec 22 Cattle are at $152.625, down $0.450,
Feb 23 Cattle are at $154.675, down $0.450,
April 23 Cattle are at $158.425, down $0.550,
Jan 23 Feeder Cattle are at $177.575, down $0.725
Mar 23 Feeder Cattle are at $181.150, down $0.400
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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