The live cattle futures market ended the day with $1.42 to $2.67 gains and saw new all time highs of above $180. USDA confirmed Tuesday’s cash trade was $3-$5 higher with WCB sales near $190 and $288-$292 in the beef. The weekly FCE auction listed 1,282 head and sold 163 CO steers for $182. Feeder cattle slipped off their new LoC highs on Tuesday, but still ended the session $0.65 to $1.45 in the black. The CME Feeder Cattle Index for 6/2 was $216.12 after a sharp $8.08 increase.
Wholesale Boxed Beef prices were higher on Tuesday as Choice was up by $7.21 and Select was $2.71 higher. USDA estimated Tuesday’s FI cattle slaughter at 125k head for a weekly running total of 246k. That is 3,000 behind the same week last year.
Jun 23 Cattle closed at $179.825, up $2.675,
Aug 23 Cattle closed at $175.500, up $2.225,
Oct 23 Cattle closed at $178.250, up $1.925,
Aug 23 Feeder Cattle closed at $243.250, up $0.650
Sep 23 Feeder Cattle closed at $246.525, up $0.900
Oct 23 Feeder Cattle closed at $248.825, up $1.175
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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