The Thursday cattle market gave back the early session gains and closed 27 to 82 cents in the red. USDA reported cash sales from $170 to $178 on Thursday. The bulk of activity in the South was $170, and the bulk in the North was $175-$177. The FCE auction sold just one pen of 112 TX heifers for $171.50. The other 1,628 head listed were unsold on $170 bids and $176 asks. Feeder cattle ended the day with 92 cent gains but were $1 off the day’s highs. The 5/9 CME Feeder Cattle Index was 3 cents higher on 5/9 to $199.45.
USDA’s weekly Export Sales report had 16,617 MT sold during the week that ended 5/4. That was down 17% from last week and 40% from the same week last year. Beef shipments were 14,773 MT during the week. Accumulated shipments were 282k MT, trailing last year’s pace by 14%. The outstanding sales were 151k MT as of 5/4, down 37% from the same time last year.
USDA’s Wholesale Boxed Beef report showed prices were mixed. Choice was down by $1.15 and Select was 4 cents higher. That left the Chc/Sel spread at $21.14. USDA estimates the weekly FI cattle slaughter at 506k head through Thursday. That is 10k above last week’s pace and is 17k higher than the same week last year.
Jun 23 Cattle closed at $162.950, down $0.050,
Aug 23 Cattle closed at $160.800, down $0.375,
Oct 23 Cattle closed at $164.550, down $0.450,
May 23 Feeder Cattle closed at $204.125, down $1.250
Aug 23 Feeder Cattle closed at $226.075, up $0.925
Oct 23 Feeder Cattle closed at $231.700, up $0.925
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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