Live cattle futures are trading with losses of as much as $1.02, led by the now lead month Feb contract through midday. Feeders are trading with losses of 75 cents to $1.47 so far. USDA reported last week’s cash market mostly near $157 on light volumes in the South. The CME Feeder Cattle Index for 12/29 was $181.93 after a $2.09 increase.
Brazilian export data showed 152,798 MT of beef was shipped in December. That was up from 127k MT during the same month in 2021.
Morning boxed beef prices were $286.86 for Choice, up by $4.88, and $2.55.01 for Select, up by $4.08. USDA estimated the week’s FI cattle slaughter at 547k head. That set the yearly total at 33.679 million.
Feb 23 Cattle are at $156.825, down $1.075,
April 23 Cattle are at $160.925, down $0.875,
Jun 23 Cattle are at $156.900, down $0.925,
Jan 23 Feeder Cattle are at $182.625, down $1.075
Mar 23 Feeder Cattle are at $184.725, down $1.500
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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