Cattle eventually bought the rumor and sold the fact following the Friday evening COF report. April traded from +57 cents to -59 cents on the day and closed with a 40 cent loss. The other nearby contracts ended from 12 to 20 cents lower. Feeder cattle closed in the black on Monday, with gains of as much as 75 cents. USDA mentioned some light WCB trade for Monday but noted the last market as $164 from last week. USDA’s OKC Feeder Auction Review showed 8.2k head were sold, including 57% steer / 40% heifer, and including 66% below 600 lbs. The 2/24 CME Feeder Cattle Index was $182.24, down by 53 cents. Â
Wholesale Boxed Beef prices were higher in the PM report, with Choice $1.06 higher to $288.34 and Select $2.17 higher to $279.25. USDA estimated Monday’s federally inspected cattle slaughter as 124k head, up from 104k last week but 1,000 lighter than the same week last year.Â
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Feb 23 Cattle  closed at $165.000, down $0.200,
Apr 23 Cattle  closed at $164.975, down $0.400,
Jun 23 Cattle  closed at $160.875, down $0.200,
Mar 23 Feeder Cattle  closed at $189.175, up $0.100
Apr 23 Feeder Cattle  closed at $194.225, up $0.650
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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