The cattle market began the new year with $0.70 to $1.05 losses. Feb was down the most on a 0.66% loss to $156.85 as the new lead month after Dec went off the board at $154.82. Feeder cattle closed the day $0.60 to $1.45 in the red across the front months. USDA reported last week’s cash market mostly near $157 on light volumes in the South. The CME Feeder Cattle Index for 01/02 was $181.02, down by $2.57.
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.
Afternoon boxed beef prices were $286.95 for Choice, up by $4.97, and $254.63 for Select, up by $3.70. USDA estimates FI cattle slaughter for Tuesday at 126k head for a 133k head week to date total.
Feb 23 Cattle closed at $156.850, down $1.050,
Apr 23 Cattle closed at $160.875, down $0.925,
Jun 23 Cattle closed at $156.825, down $1.000,
Jan 23 Feeder Cattle closed at $182.700, down $1.000
Mar 23 Feeder Cattle closed at $184.775, down $1.450
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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