Live cattle futures are mixed but mostly higher so far for Tuesday. The deferred contracts are still in the red, but by less than a dime. The nearbys are trading with gains of as much as 50 cents. The Central Stockyards hosted FCE saw no sales between $162 bids and $164-165 asks for the 1,071 head listed. Cash trade so far remains mostly unestablished. Last week’s activity was mostly near $164. Front month feeder cattle futures are trading mixed but mostly higher as well. April is down by 7 cents, but the other nearbys are working 25 to 50 cents in the black. The CME Feeder Cattle Index for 3/17 was $188.01, up by 14 cents.
USDA’s wholesale Boxed Beef prices weakened on Tuesday morning with a 25 cent drop in Choice and an 81 cent lower Select. USDA estimated Monday’s FI cattle slaughter at 125k head. That matched last week and is 8,000 more than the same Monday last year.
April 23 Cattle are at $162.525, up $0.500,
Jun 23 Cattle are at $156.125, up $0.600,
Aug 23 Cattle are at $156.125, up $0.375,
Cash Cattle Index was $165.000, from $165.00 last week
Mar 23 Feeder Cattle are at $188.700, up $0.500
April 23 Feeder Cattle are at $194.625, unch,
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.
/Oracle%20Corp_%20logo%20on%20phone%20and%20stock%20data-by%20Rokas%20Tenys%20via%20Shutterstock.jpg)
/NVIDIA%20Corp%20logo%20on%20phone%20and%20AI%20chip-by%20Below%20the%20Sky%20via%20Shutterstock.jpg)
/Green%20hydrogen%20by%20Scharfsinn%20via%20Shutterstock.jpg)