Live cattle futures are trading 50 to 65 cents lower so far, with 50 to 90 cent losses in the feeders. USDA has found limited cash trade for the week. The weekly FCE auction saw no cash trade between $163-$164 and asks from $165. The 3/7 CME Feeder Cattle Index was $188.33, up by another 29 cents.
Beef export sales were 5,570 MT for the week that ended 3/2. South Korea had a 1,100 MT cancelation. Beef shipments were 13k MT for the week, bringing the season’s total to 137,667 MT.
Wholesale Boxed Beef prices were weaker in the AM report with Choice 11 cents lower and Select $1.99 weaker. USDA estimated the week’s FI cattle slaughter at 378,000 head through Wednesday. That is 2,000 more than last week’s pace and is up 7,000 from the same week last year.
April 23 Cattle are at $165.050, down $0.400,
Jun 23 Cattle are at $160.150, down $0.500,
Aug 23 Cattle are at $159.800, down $0.375,
Cash Cattle Indexwas $165.000, from $163.56 last week
Mar 23 Feeder Cattle are at $193.450, down $0.300
April 23 Feeder Cattle are at $199.700, down $0.375
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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