Live cattle futures are trading triple digits higher so far with April leading the way on a $2.57 gain. USDA confirmed some light catch up business in the WCB on Friday, with sales of $155 - $156. The USDA mentioned activity from $152 to $157 through the week with limited enough volume to not declare a bulk price outside of $155 in NE.Â
Feeder cattle are trading triple digits higher as well with $1.10 to $1.70 gains through midday. USDA reported light volumes from the OKC Feeder Cattle Auction review citing winter weather. The report had only 2,750 head traded – compared to 9k last week and 11k last year, for prices steady to $3 lower. The CME Feeder Cattle Index for 1/26 was another $0.77 higher to $179.57.
Wholesale Boxed Beef prices were higher in Monday’s AM report with a 7 cent increase to Choice and a $1.14 increase to Select. That had the Chc/Sel spread at $16.15. Last week’s federally inspected cattle slaughter was estimated as 659k head through Saturday. That is up by 13k head from last week and by 4,000 head from the same week last year.Â
Feb 23 Cattle  are at $158.500, up $1.775,
April 23 Cattle  are at $163.175, up $2.350,
Jun 23 Cattle  are at $159.500, up $1.725,
Cash Cattle Indexwas $156.000, from $156.00 last week
Mar 23 Feeder Cattle  are at $184.600, up $1.125
April 23 Feeder Cattle  are at $188.725, up $1.175
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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