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After fading Monday and Tuesday, the midweek cattle futures market is back up by triple digits and into the black for the week’s net move. The Wednesday FCE auction had 828 head listed and sold 396 TX heifers, one pen for $171.50 and another for $174. Midday feeder cattle prices are $0.97 to $1.07 higher so far. The 5/22 CME Feeder Cattle Index was $206.76, up by $2.06.
USDA’s AM Wholesale Boxed Beef quotes were $299.37 cwt. in Choice and $283.38 in Select. That was a $1.37 drop and a $2.10 increase respectively as the spread tightened to $15.99. USDA estimated Tuesday cattle slaughter at 126k head for a weekly running total of 251,000. That is 2k head behind last week’s pace but matches the same week last year.
Jun 23 Cattle are at $165.950, up $1.675,
Aug 23 Cattle are at $164.025, up $1.450,
Oct 23 Cattle are at $168.375, up $1.200,
Cash Cattle Index was $170.000, from $170.00 last week
May 23 Feeder Cattle are at $208.700, up $0.900
Aug 23 Feeder Cattle are at $234.250, up $0.775
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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