Midday cattle futures are down another 67 to 92 cents across the front months. For June, that has the board at a $3.25 loss for the week so far. Wednesday’s FCE auction sold 311 of the 1,294 head listed for $172. USDA reported $172 - $178 cash trades on Tuesday, with Southern business mostly $1-2 lower near $172 and Northern dressed sales $2-$5 lower at $281. Midday feeders are trading $1.65 to $1.75 in the red. The August contract is sitting at a $6.32 drop for the week so far. The CME Feeder Cattle Index was $202.82 on 5/1, up by $1.01.
USDA’s Wholesale Boxed Beef prices were mixed in the Wednesday AM report, with Choice up by 34 cents and Select $1.17 lower. USDA estimated Tuesday’s FI cattle slaughter at 128k head, for a WTD pace of 250,000. That compares to 252k last week and to 239k from the same week last year.
Jun 23 Cattle are at $162.225, down $0.675,
Aug 23 Cattle are at $160.150, down $0.800,
Oct 23 Cattle are at $164.450, down $0.850,
Cash Cattle Index was $173.000, from $175.00 last week
May 23 Feeder Cattle are at $204.650, down $1.300
Aug 23 Feeder Cattle are at $224.800, down $1.375
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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