Feeder cattle continued higher on Tuesday with another 5 to 95 cent gains for the front months. The fat cattle saw a 10 cent gain for Dec, but 12 to 45 cent losses for the other front months. Tuesday’s FCE auction had no cash cattle sales between the $163-$164 bids and $165-$166 asks for the 1,114 head listed. USDA reported feeder prices were $2 to $8 higher in the steers and steady to $3 higher for heifers in their OKC feeder auction review. The CME Feeder Cattle Index from 3/3 was another $1.78 higher to $187.21.
Wholesale Boxed Beef prices were mixed on Tuesday as Choice was down by $2.27 and Select was up by $1.02. That tightened the Chc/Sel spread to $10.44. USDA estimated Tuesday’s FI cattle slaughter as 127k head for a weekly total of 252,000. That is 2,000 head ahead of last week and 6k head ahead of the same week last year.
Apr 23 Cattle closed at $165.975, down $0.125,
Jun 23 Cattle closed at $160.550, down $0.450,
Aug 23 Cattle closed at $160.100, down $0.375,
Mar 23 Feeder Cattle closed at $192.125, up $0.050
Apr 23 Feeder Cattle closed at $198.675, up $0.075
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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