Tuesday’s session ended with 5 to 12 cent gains for the front month cattle futures. Feb fats went home UNCH on the day after a tighter $1.27 range from -20 to +$1.07. Feeder cattle were mixed at the bell, with a 30 cent loss in the May contract and a 67 cent gain for the Jan. Jan remains at a $20.85 discount to the August contract. The Tuesday offer from the Central Stockyards’ FCE had 1,078 head listed but no sales between $158 asks and $156-157 bids. USDA mentioned very limited cash trade in the WCB on Tuesday, but not enough for a market test. The CME Feeder Cattle Index was $181.01 for 1/09, up by 64 cents.
Wholesale Boxed Beef prices were lower on Tuesday with Choice down by $1.61 to $284.53 and Select down by $1.27 to $258.33. USDA estimated Tuesday’s FI cattle slaughter at 127k head for a weekly total of 256,000. The same week last year was running at 227,000 head.
Feb 23 Cattle closed at $157.750, unch,
Apr 23 Cattle closed at $161.650, up $0.125,
Jun 23 Cattle closed at $157.500, up $0.050,
Jan 23 Feeder Cattle closed at $184.300, up $0.675
Mar 23 Feeder Cattle closed at $186.500, up $0.200
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.
/Jen-Hsun%20Huan%20NVIDIA's%20Founder%2C%20President%20and%20CEO%20by%20jamesonwu1972%20via%20Shutterstock.jpg)
/Palantir%20(PLTR)%20by%20Piotr%20Swat%20via%20Shutterstock.jpg)
