The front month feeder cattle futures ended the midweek session up by $0.07 to $0.67, but had worked back off their highs by the bell. Fat cattle were mostly lower, but Feb ended up by 40 cents on the day. The other front months stayed within 10 cents of their open on the midweek pullback. USDA reported some more cash trade mostly near $159 for NE on Wednesday, with deals from $159 to $162 and $254 in the beef. Wednesday’s FCE auction had 1,152 head listed, and sold just 84 South Dakota heifers for $158.75. The CME Feeder Cattle Index was just a penny higher on 2/14 to $183.07.
Wholesale Boxed Beef prices from USDA’s PM report were $3.61 higher in Choice and $2.41 higher in Select. The week’s FI cattle slaughter was estimated at 376k head through Wednesday, up by 6k from last week and 4k from the same week last year.
Feb 23 Cattle closed at $162.550, up $0.400,
Apr 23 Cattle closed at $164.600, down $0.075,
Jun 23 Cattle closed at $160.200, down $0.025,
Mar 23 Feeder Cattle closed at $187.325, up $0.675
Apr 23 Feeder Cattle closed at $191.150, up $0.250
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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