The cattle futures complex is mixed so far through midday with weaker fats and stronger feeders. Fat cattle are down as much as 45 cents for the midday quotes. Bids and asks from the Thursday FCE listing showed $162.25 to $164 offers against firm $165 prices. No sales were made. Feeder cattle futures are another 22 to 55 cents higher so far. The 2/27 CME Feeder Cattle Index was 38 cents higher to $182.62.
The weekly Export Sales report showed 8,084 MT of beef was booked during the week that ended 2/23. That was a calendar low, with Mexico notably absent (booking only 400 MT). Beef exports for the week were 16,086 MT, a 4% drop wk/wk to bring the accumulated shipment to 124,631 MT.
Wholesale Boxed Beef prices firmed some in the AM report with a $1.07 recovery for Choice and a 21c recover for Select. USDA estimated federally inspected cattle slaughter for the week through Wednesday at 376k head, compared to 357k last week and 376k during the same week last year.
April 23 Cattle are at $164.750, down $0.375,
Jun 23 Cattle are at $160.275, down $0.325,
Aug 23 Cattle are at $159.475, down $0.200,
Cash Cattle Indexwas $163.560, from $160.31 last week
Mar 23 Feeder Cattle are at $188.875, up $0.575
April 23 Feeder Cattle are at $194.250, up $0.400
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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