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Live cattle futures are off to a weaker start on Monday, as contracts are down 30 to 75 cents at midday. Last week’s cash trade as reported by the USDA was $165 - $168, with a bulk of the trade at $165, steady on the week. Feeder cattle futures are following the fats, with contracts down 82 cents to $1.67. The CME Feeder Cattle Index was $188.83 on 3/9 after another 11 cent increase.
Wholesale Boxed Beef prices were mixed on Monday morning. Choice was down 33 cents at $284.58, with Select $1.45 higher to $272.99. Last week’s FI cattle slaughter was estimated at 634,000 head through Saturday. That compares to 629k in the previous week and 637k during the same week last year.
April 23 Cattle are at $163.675, down $0.600,
Jun 23 Cattle are at $158.175, down $0.475,
Aug 23 Cattle are at $158.150, down $0.300,
Cash Cattle Index was $165.000, from $165.00 last week
Mar 23 Feeder Cattle are at $190.650, down $0.825
April 23 Feeder Cattle are at $196.850, down $0.800
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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