Following the Monday weakness, live cattle futures are back up by 7 to 25 cents. Central Stockyard’s FCE had 1,691 head listed, with no sales between $153 bids and $155 asks. Cash trade was unestablished today. Last week USDA saw $154-155 in the South (+$3) and $156-158 in the North. Feeders are trading 5 to 57 cents higher on the board in the front months. The USDA’s OKC Feeder Auction review had $1-$3 higher for feeder steers and $3-$7 stronger steer calve sales, though volumes were slightly lower. The 11/25 Feeder Cattle Index from CME was up $3.56 to $177.19.
Wholesale Boxed Beef prices were weaker in the AM report with a $1.18 drop in Choice and a $1.99 weaker Select quote. USDA estimated Monday’s FI cattle slaughter at 128k head, matching last week.
Dec 22 Cattle are at $152.600, up $0.025,
Feb 23 Cattle are at $154.875, up $0.200,
April 23 Cattle are at $158.600, up $0.150,
Jan 23 Feeder Cattle are at $177.350, up $0.475
Mar 23 Feeder Cattle are at $180.875, up $0.275
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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