Tuesday’s session ended with 27 to 80 cent losses in the live cattle futures market. Feb closed off the lows for the session and went home $157 flat. Feeder cattle closed down by $0.92 to $1.60 on the board with Jan seeing sub $180 levels for the first time since Nov 30th. There were limited to no cash trades Tuesday per USDA. Last week’s cash market was mostly near $156-$157 – down by $1 from last week. USDA’s OKC Feeder Cattle Auction Review showed 14.4k head were sold with prices steady to $3 higher. The CME Feeder Cattle Index for 1/12 was $182.03, after a 33 cent drop.
USDA’s Wholesale Boxed Beef report showed Choice was quoted $276.66, down by 77 cents and Select was $2.02 weaker at $254.53. USDA estimated the week’s FI cattle slaughter at 253k head through Tuesday, down by 3k from last week but up 25k head from the same week last year.
Feb 23 Cattle closed at $157.000, down $0.725,
Apr 23 Cattle closed at $160.100, down $0.800,
Jun 23 Cattle closed at $156.800, down $0.275,
Jan 23 Feeder Cattle closed at $179.650, down $1.600
Mar 23 Feeder Cattle closed at $181.300, down $1.575
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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