The June fat cattle contract and the November feeder cattle contract were lonely in the black at Monday’s mostly red (lower) cattle market close. The live cattle futures settled 60c to $1 off their lows but still 17 to 47 cents weaker. June closed up by 20c as expiration approaches this Friday. Front month feeders closed a nickel to 27 cents lower, save for the 37 cent gain in Nov. USDA called last week’s cash market $184 for the WCB, and $180 in the South. The CME Feeder Cattle Index was 73 cents weaker on 6/22 to $221 flat.
USDA’ Wholesale Boxed Beef prices were 97 cents weaker in Choice and 29 cents lower in Select on Monday afternoon. USDA estimated Monday’s FI cattle slaughter at 125k head, down by 1k from last week but matching the same Monday last year.
Jun 23 Cattle closed at $177.700, up $0.200,
Aug 23 Cattle closed at $170.600, down $0.175,
Oct 23 Cattle closed at $174.025, down $0.475,
Aug 23 Feeder Cattle closed at $233.675, down $0.275
Sep 23 Feeder Cattle closed at $237.500, down $0.200
Oct 23 Feeder Cattle closed at $240.100, down $0.050
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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