The cattle futures market is mostly red so far, though August and October are up by a nickel. The other front months are down by as much as 45 cents through midday. Wednesday’s FCE auction had no sales between $170-$171 bids and $172 asks for the 1,721 head listed. USDA reported light cash activity on Tuesday with limited $177 trade in the WCB. Frotn month feeder cattle futures are trading with $0.65 to $1.22 losses so far. The 5/8 CME Feeder Cattle Index was $199.42, back down by 59 cents.
USDA’s Wholesale Boxed Beef report showed Choice boxes were back up by 58 cents to $307.96 cwt. and Select was $1.17 higher at $286.06. USDA estimated Tuesday’s FI cattle slaughter at 128k head. That has the WTD total at 254k head, compared to 250k last week and 243k during the same week last year.
Jun 23 Cattle are at $163.500, down $0.425,
Aug 23 Cattle are at $161.650, up $0.100,
Oct 23 Cattle are at $165.375, up $0.050,
Cash Cattle Index was $172.000, from $172.00 last week
May 23 Feeder Cattle are at $205.125, down $0.800
Aug 23 Feeder Cattle are at $224.675, down $1.450
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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