Live cattle are higher at Tuesday’s midday, with contracts 15 to 45 cents higher. Feeders are up 60 cents to $1.25. Cash trade was unestablished on Monday. USDA had last week’s cash activity near $172 in the South and $176 in the North. Tuesday’s Fed Cattle Exchange showed no sale on the 1,907 head offered, with bids of $170-171 and asks of $172-176. USDA’s OKC Feeder Cattle Auction review had 8,319 head sold with 61% steers and 75% over 600#s. The CME Feeder Cattle Index was back up by 55 cents to $200.01 on 5/5.
USDA’s Boxed Beef report from Tuesday morning saw wholesale strength. Choice was $1.07 higher at $309.63, with Select up 93 cents to $286.05. That widened the Chc/Sel spread to $23.58. USDA estimated Monday’s FI cattle slaughter at 126k head. That is 3,000 above last week and is 7,000 more than the same week last year.
Jun 23 Cattle are at $162.575, up $0.150,
Aug 23 Cattle are at $160.525, up $0.450,
Oct 23 Cattle are at $164.375, up $0.250,
Cash Cattle Index was $172.000, from $173.00 last week
May 23 Feeder Cattle are at $204.025, up $0.600
Aug 23 Feeder Cattle are at $224.350, up $1.250
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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