Reaction to the Semi-Annual Cattle Inventory report left the live cattle futures market 35 to 80 cents in the red. Feeders dropped by triple digits, with March giving back 1.56% on the day. USDA saw no cash trade for the week through Wednesday. The CME Feeder Cattle Index was 5 cents weaker on 1/31 at $180.37. Â
Brazil’s Jan ’23 beef export shipments were 160,191 MT. That was a 16% increase from January 2022.Â
Wholesale Boxed Beef prices from Wednesday’s PM report had Choice $1.02 weaker and Select 14 cents weaker for a Chc/Sel spread of $12.29. USDA estimated FI cattle slaughter at 375k head for the week through Wednesday, which is down by 3k head from last week’s pace and remains 13k head above the same week last year.Â
Feb 23 Cattle  closed at $158.425, down $0.425,
Apr 23 Cattle  closed at $162.225, down $0.800,
Jun 23 Cattle  closed at $158.700, down $0.450,
Mar 23 Feeder Cattle  closed at $183.250, down $2.900
Apr 23 Feeder Cattle  closed at $187.950, down $2.100
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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