Dec cattle options expire at the close today, with FND on Monday. The board is trading 25 to 57 cents higher through the front months. Feeder cattle futures are working $0.82 to $1.65 higher so far. USDA mentioned some light Northern trade on Thursday at $157. The CME Feeder Cattle Index was $178.40 on 11/30, UNCH from 11/29.
USDA reported 15.4k MT of beef was sold for export during the week that ended 11/24. That was 19% above last week, but down 29% from the same week last year. China was the top buyer with 7.2k MT. Beef shipments for the week were 15,750 MT for a YTD total of 858k MT.
Wholesale Boxed Beef prices from USDA’s AM report showed a $2.02 drop in Choice to $251.55 and a 66 cent cwt. increase in Select to $225.66. USDA estimates the week’s FI cattle slaughter at 512k head through Thursday.
Dec 22 Cattle are at $153.425, up $0.375,
Feb 23 Cattle are at $155.925, up $0.500,
April 23 Cattle are at $159.625, up $0.375,
Jan 23 Feeder Cattle are at $182.425, up $1.350
Mar 23 Feeder Cattle are at $185.125, up $0.825
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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