Live cattle closed lower on Tuesday. Futures were down 12 to 45 cents on the day and stayed in a relatively tighter range on both sides of UNCH. Feeder cattle were mostly higher, though nearby May was down by 80 cents ahead of next Thursday’s (26th) expiration. It still has a premium to the index. The Tuesday FCE auction listed 1,987 head but got no sales between $168-$169 bids and $170-$172 asks. Cash trade for the week was unestablished through Tuesday. USDA’s weekly FCE Feeder Cattle Auction Review showed 4.3k head were sold with prices steady to $2 higher. The CME Feeder Cattle Index was $1.53 higher to $202.11 on 5/12.
USDA reported Choice boxes were $2.51 lower on Tuesday afternoon and Select was weaker by 36 cents. That tightened the spread to $15.12. USDA estimated Tuesday’s FI cattle slaughter at 127k head for a weekly running total of 253,000 head. That is 1,000 behind last week’s pace.
Jun 23 Cattle closed at $163.875, down $0.450,
Aug 23 Cattle closed at $162.475, down $0.275,
Oct 23 Cattle closed at $166.925, down $0.200,
May 23 Feeder Cattle closed at $205.700, down $0.800
Aug 23 Feeder Cattle closed at $231.475, up $0.425
Sep 23 Feeder Cattle closed at $234.325, up $0.475
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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