Fat cattle prices are down by $0.45 to $1.10 led by the October contract’s 0.6% loss. Feeders are down by triple digits. USDA confirmed some light trade in NE, though volumes were too weak to establish a trend. The 9/08 CME Feeder Cattle Index increased by $1.21 to $250.42.
USDA’s Wholesale Boxed Beef report had mixed quotes in the Wednesday AM update. Choice was down by 16 cents and Select was $1.24 stronger. USDA estimated FI cattle slaughter for Tuesday at 127k head, for a weekly total of 252k head. That is down 3k head from the same week last year.
Oct 23 Cattle are at $182.900, down $1.250,
Dec 23 Cattle are at $187.625, down $0.825,
Feb 24 Cattle are at $192.075, down $0.550,
Cash Cattle Index was $179.000, from $179.00 last week
Sep 23 Feeder Cattle are at $254.100, down $1.225
Oct 23 Feeder Cattle are at $259.475, down $1.775
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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