Live cattle futures are trading with midday weakness of 10 to 32 cents so far. Feeders are down by 67 to 92 cents. The Wednesday FCE auction again had no sales for the 893 head listed, with $156 bids and $158 asks. USDA mentioned very limited cash trade in the WCB on Tuesday, but not enough for a market test. Tuesday’s OKC Feeder Cattle Auction review had $1-4 higher prices for the 17,784 head sold. 56% of the cattle sold were under 600#s. The CME Feeder Cattle Index was $181.01 for 1/09, up by 64 cents.    Â
Wholesale Boxed Beef prices for Wednesday morning were $1.17 weaker in Choice and 18 cents higher for Select. Choice ribs were quoted at $499.83 cwt. and Select ribs were $378.44. 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.Â
Feb 23 Cattle  are at $157.700, down $0.050,
April 23 Cattle  are at $161.475, down $0.175,
Jun 23 Cattle  are at $157.425, down $0.075,
Jan 23 Feeder Cattle  are at $183.550, down $0.750
Mar 23 Feeder Cattle  are at $185.725, down $0.775
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. For more information please view the Barchart Disclosure Policy here
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