Cattle Were Mixed on Tuesday

Front month fat cattle futures were 2 to 40 cents higher at the bell, while feeder cattle went home as much as 57 cents in the red. May feeders held above the $200 mark at the session low and the fall months remain $25-30 above the spot March price. Tuesday’s FCE auction had 1,482 head listed with no sales between $162-163 bids and $165-166 asks. Cash trade remains light to unestablished for the week. CME’s Feeder Cattle Index for 3/27 was $191.34, up by another 10 cents. 

USDA’s Wholesale Boxed Beef prices were stronger in their afternoon report with a 27 cent increase for Choice and a 64 cent increase to Select. The Chc/Sel spread was $10.27 on Tuesday. USDA estimated Tuesday’s federally inspected cattle slaughter at 127k head. That set the week’s total at 252k head matching last week and 7,000 more than the same week last year. 

Apr 23 Cattle  closed at $164.950, up $0.050,

Jun 23 Cattle  closed at $158.900, up $0.025,

Aug 23 Cattle  closed at $158.725, up $0.125,

Mar 23 Feeder Cattle  closed at $191.725, down $0.625

Apr 23 Feeder Cattle  closed at $197.225, down $0.400

Aug 23 Feeder Cattle  closed at $216.900, down $0.100