
The cattle futures market ended the session with 60 to 97 cent losses across the front months. USDA confirmed $164-165 cash trade in TX on Thursday, though volumes remain light for the week. The feeder cattle futures market ended the session $0.67 to $1.15 in the red on Thursday. The CME Feeder Cattle Index was $188.72 on 3/8, up by another 39 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 on Thursday, with Choice 18 cents lower and Select $2.07 lower. The week’s FI cattle slaughter was estimated at 502,000 head through Thursday. That is 1,000 above last week’s pace and is up 8k head from the same week last year.
Apr 23 Cattle closed at $164.800, down $0.650,
Jun 23 Cattle closed at $159.675, down $0.975,
Aug 23 Cattle closed at $159.350, down $0.825,
Mar 23 Feeder Cattle closed at $193.075, down $0.675
Apr 23 Feeder Cattle closed at $199.150, down $0.925
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.