Front month live cattle futures closed 12 to 35 cents higher past the Feb contract. February fats were 25 cents lower on the day. There were no sales on Wednesday’s FCE auction, following no bids for the 986 head listed. USDA reported light cash business for Wednesday in the South at $152 - $153. Feeder cattle futures ended the day with 15 to 60 cent gains. The CME Feeder Cattle Index for 1/24 was $177.77, after a 24 cent bounce.
The monthly Cold Storage report from NASS showed Dec 31 beef stocks were 543.955m lbs. That was 7.3% above the November stock and was 4% higher than Dec ’21.
USDA’s Wholesale Boxed Beef prices were $1.36 weaker for Choice in the PM report and was 59 cents lower in the Select. USDA estimated FI cattle slaughter for the week through Wednesday at 378k head. That was 5k head more than last week and was 19k head more than the same week last year.
Feb 23 Cattle closed at $157.600, down $0.250,
Apr 23 Cattle closed at $161.550, up $0.250,
Jun 23 Cattle closed at $158.200, up $0.350,
Jan 23 Feeder Cattle closed at $179.400, up $0.450
Mar 23 Feeder Cattle closed at $183.750, up $0.150
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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