Feeder cattle are trading 10 to 42 cents in the black as the fat cattle market is weaker. Front month fat cattle are down 17 to 62 cents for midday. Wednesday’s FCE auction had 1,152 head listed, and sold just 84 South Dakota heifers for $158.75. USDA confirmed light cash trade in the South and WCB from $159 - $160, but noted volumes were to light for a market test. The CME Feeder Cattle Index was $183.06 on 2/13 after a 27 cent drop.
Wholesale Boxed Beef prices were higher this morning with $3.66 stronger Choice and $2.83 higher Select. USDA estimated Tuesday’s FI cattle slaughter at 125k head for a weekly total of 251,000. That compares to 246k head last week and 248k head during the same week last year.
Feb 23 Cattle are at $161.975, down $0.175,
April 23 Cattle are at $164.050, down $0.625,
Jun 23 Cattle are at $159.825, down $0.400,
Cash Cattle Index was $160.310, from $156.00 last week
Mar 23 Feeder Cattle are at $187.175, up $0.525
April 23 Feeder Cattle are at $191.050, 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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