The cattle futures market is trading $0.45 to $1.72 in the black. That has the Dec contract at a net $1.55 gain for the week’s move, though June fats are still red by 20c through Friday’s midday. Four pens from Grizzle Feedyard in CA were sold in Friday’s FCE auction for a total of 142 head sold at $180. USDA confirmed some $185 sales in NE and $188 for the WCB on Thursday. Board feeder prices are $1.02 to $1.12 higher at midday. The CME Feeder Cattle Index was 57 cents weaker to $227.68 on 6/14.
USDA’s Wholesale Boxed Beef report was mixed on Friday morning, as Choice quotes cooled off by 8 cents, though Select was back up by 36c. Choice ribs were shown at $523.01 cwt. while Select ribs were priced at $427.96 cwt. USDA estimated the week’s FI cattle slaughter at 500k head through Thursday, compared to 495k last week and 498k during the same week last year.
Jun 23 Cattle are at $178.075, up $0.500,
Aug 23 Cattle are at $171.550, up $0.475,
Oct 23 Cattle are at $175.250, up $0.900,
Cash Cattle Index was $185.000, from $190.00 last week
Aug 23 Feeder Cattle are at $235.100, up $0.975
Sep 23 Feeder Cattle are at $238.325, up $0.800
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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