The April cattle contract rallied $3.30 and set new contract highs this week, and finished with a Friday gain of 30 cents. The other front months were also higher from Friday to Friday and went into the weekend 15 to 52 cents higher on the day. Feeder cattle futures closed up by 17 to 55 cents. USDA reported light cash trade in the WCB mostly near $154 on Thursday. Front month feeder cattle futures are trading through midday with 10 to 12 cent gains, but have backed off their highs. The CME Feeder Cattle Index was back up by 53 cents on 2/01 to $180.90.  Â
USDA showed Friday boxed beef prices were lower as Choice dropped 36 cents to the $2.05 drop in Select. USDA estimated FI cattle slaughter for the week through Saturday at 641k head. That was a drop from 659k last week, but was above the 635k head from the same week last year.Â
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Feb 23 Cattle  closed at $160.275, up $0.525,
Apr 23 Cattle  closed at $164.125, up $0.300,
Jun 23 Cattle  closed at $160.275, up $0.275,
Mar 23 Feeder Cattle  closed at $186.100, up $0.175
Apr 23 Feeder Cattle  closed at $190.625, up $0.550
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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