Live cattle futures closed with 27 to 75 cent gains on Tuesday. Feeders ended the day mixed within 30 cents of UNCH. USDA mentioned some light WCB trade on Tuesday at $155, but not enough action to establish a week’s trend. The bulk of last week’s cash activity was near $155. The CME Feeder Cattle Index for 1/23 was $177.53, down by 16 cents.
Wholesale Boxed Beef prices slid on Tuesday, with Choice $1.80 weaker and Select $2.10 lower. USDA estimated Tuesday’s FI cattle slaughter at 127k head for a weekly total of 251k. That compares to 253k last week and 239k head during the same week last year.
Feb 23 Cattle closed at $157.850, up $0.375,
Apr 23 Cattle closed at $161.300, up $0.750,
Jun 23 Cattle closed at $157.850, up $0.550,
Jan 23 Feeder Cattle closed at $178.950, down $0.225
Mar 23 Feeder Cattle closed at $183.600, up $0.325
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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