Front month cattle futures are trading higher so far at midday with $0.70 to $1.02 gains. For April, the contract is still at a net 27 cent loss for the week thus far. USDA confirmed some light cash activity near $165 in the WCB; the week’s full range was shown from $163 to $165 on light volumes. Feeder cattle futures are also trading higher with 0.6% to 1% gains across the front months. April is leading the way on a $2 gain at midday. The CME Feeder Cattle Index was 98 cents stronger to $183.04 on 3/01.
Wholesale Boxed Beef prices from Friday morning were mixed as Choice was up by $1.58 to $290.08 cwt. but Select was down 16 cents to $277.42. Federally inspected cattle slaughter was estimated at 501,000 head for the week through Thursday. That is 23k head more than last week, but trails the same week last year by 1,000.
April 23 Cattle are at $165.225, up $1.125,
Jun 23 Cattle are at $160.500, up $1.050,
Aug 23 Cattle are at $159.725, up $1.000,
Cash Cattle Index was $163.560, from $163.46 last week
Mar 23 Feeder Cattle are at $189.775, up $1.200
April 23 Feeder Cattle are at $195.875, up $2.025
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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