Live cattle futures are trading $1.25 to $1.70 lower through Tuesday’s midday. Feeders are also feeling pressure with $2.75 to $2.92 losses at midday. FCE’s Tuesday auction sold 147 heifers for $172, the rest went unsold between $172.50 bids and $173-174 asks. Cash trade was unestablished on Monday. USDA’s OKC Feeder Cattle Auction Review had sale prices mostly $4 stronger for the 6,770 head sold. The CME Feeder Cattle Index was $1.39 lower on 4/28 to $201.81.
USDA’s Wholesale Boxed Beef prices were mixed again on Tuesday morning. Choice was another $1.20 weaker and Select was up by another $1.77. That tightened the spread to $16.05. USDA estimated FI cattle slaughter at 123k head for Monday. That was 1k below last week but was up 10k from the same week last year.
Jun 23 Cattle are at $163.200, down $1.675,
Aug 23 Cattle are at $160.975, down $1.675,
Oct 23 Cattle are at $165.425, down $1.575,
Cash Cattle Index was $173.000, from $175.00 last week
May 23 Feeder Cattle are at $206.925, down $2.775
Aug 23 Feeder Cattle are at $227.325, down $2.775
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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