Live cattle futures are up by 52 to 72 cents at midday. Feeders are rallying by $2.67 to $3.52 on the board. 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.
USDA quoted Wholesale Boxed Beef prices $4.88 stronger in Choice and $4.08 higher in Select this morning. USDA estimates FI cattle slaughter for Tuesday at 126k head for a 133k head week to date total.
Feb 23 Cattle are at $157.325, up $0.475,
April 23 Cattle are at $161.550, up $0.675,
Jun 23 Cattle are at $157.275, up $0.450,
Jan 23 Feeder Cattle are at $185.275, up $2.575
Mar 23 Feeder Cattle are at $188.175, up $3.400
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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