Midday fat cattle futures are 10 to 60 cents lower so far at midday. For the April contract, that has the week’s move at a $1.95 loss. Feeders are mostly lower as well, though August is up by 2 cents. USDA showed limited cash trade for Thursday, though prices were mostly $164 for the trade that did take place. The CME Feeder Cattle Index for 3/15 was 70 cents weaker to $188.71.
NASS will report March 1st’s cattle inventory for 1,000+ head feedlots after the close this afternoon. February marketings and placements will also be confirmed.
Friday’s AM Boxed Beef prices were firmer with a $1.41 increase in Select and a 43c increase for Choice. The ribs were quoted at $470.88 for Choice and $426.99 for Select. USDA estimated the week’s FI cattle slaughter at 501k head through Thursday, compared to 502k last week and 493k during the same week last year.
April 23 Cattle are at $162.125, down $0.225,
Jun 23 Cattle are at $156.425, down $0.450,
Aug 23 Cattle are at $156.475, down $0.100,
Cash Cattle Index was $165.000, from $165.00 last week
Mar 23 Feeder Cattle are at $189.125, down $0.375
April 23 Feeder Cattle are at $194.725, down $0.425
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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