The front month fat cattle futures market ended the midweek trade 7 to 45 cents lower, but April closed $1.70 off its low for the day yesterday, April is still over $3 below its Life of Contract high set on 3/6. USDA confirmed some cash trade from $162 to $165, and from $264 - $268 in the beef on Wednesday. The bulk of trade was $1 lower than last week near $163. The FCE reported 1 sale of 128 TX heifers for $163 in their Wednesday electronic auction. Feeder cattle futures ended the session with 32 to 77 cent losses. The CME Feeder Cattle Index was down by 11 cents to $187.69 for 3/21.
USDA’s wholesale Boxed Beef prices were mixed in the midweek report. Choice was $281.30 cwt. after a $1.38 increase and Select was $269.82 after a $1.73 drop. USDA estimated the week’s FI cattle slaughter at 378k head through Wednesday. That remains even with last week and 15k head above the same week last year.
Apr 23 Cattle closed at $162.300, down $0.125,
Jun 23 Cattle closed at $155.900, down $0.250,
Aug 23 Cattle closed at $155.975, down $0.075,
Mar 23 Feeder Cattle closed at $188.250, down $0.525
Apr 23 Feeder Cattle closed at $194.375, down $0.325
Aug 23 Feeder Cattle closed at $214.575, down $0.525
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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