Front month live cattle futures are up by triple digits so far. April gapped higher out of the weekend by 30 cents. Last week’s cash cattle trade was heaviest on Wednesday from $162 to $166, with the bulk of action near $163 in the South and $165 in the WCB. Front month feeder cattle futures are trading $2.05 to $3.82 higher at midday. USDA’s OKC Feeder Cattle Auction review showed 6,500 head were sold, with 58% steers to 42% heifers. CME’s 3/23 Feeder Cattle Index was up by $1.07 to $188.85.
USDA’s Wholesale Boxed Beef prices were reported at $280.16 for Choice and $269.36 for Select this morning. That was a 28 cent increase for Choice and a 61 cent increase for Select. USDA estimated federally inspected cattle slaughter at 626k head for the week through Saturday. That is down by 5k head wk/wk and by 31k yr/yr. The YTD pace trails last year by 2.6%.
April 23 Cattle are at $164.375, up $1.375,
Jun 23 Cattle are at $158.375, up $1.775,
Aug 23 Cattle are at $158.125, up $1.700,
Cash Cattle Index was $163.000, from $165.00 last week
Mar 23 Feeder Cattle are at $191.575, up $1.925
April 23 Feeder Cattle are at $197.450, up $2.650
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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