April fat cattle futures ended the Thursday session with a triple digit pullback of $1.32, while the rest of the complex closed higher. Feeder cattle were helped by weakness in the grains, gaining 0.89% to 1.2% across the front months. USDA reported decent Thursday volumes in the cash market with Southern cattle trading hands from $172.50 to $175 and trade from $180 - $183 in the North. USDA had the bulk of activity near $175 for the South and $182 for the North. The CME Feeder Cattle Index was $203.91, down by $2.32 on 4/19.
USDA’s weekly Export Sales data had 19,092 MT of beef bookings for the week that ended 4/13. That was a 9-week high. Year to date beef exports total 232,727 MT – compared to 271.1k MT last year at this time.
USDA’s Wholesale Boxed Beef prices were mixed on Thursday, with Choice back up by $1.07 and Select another $2.72 weaker. USDA estimated the week’s cattle slaughter as 502k head through Thursday. That is up from 489k head last week and 482k during the same week last year.
Apr 23 Cattle closed at $174.100, down $1.325,
Jun 23 Cattle closed at $164.350, up $0.750,
Aug 23 Cattle closed at $163.425, up $0.675,
Apr 23 Feeder Cattle closed at $205.025, up $0.350
May 23 Feeder Cattle closed at $212.350, up $1.875
Sep 23 Feeder Cattle closed at $232.025, up $2.450
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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