Fat cattle futures are off their lows and trading mixed through midday. The 2023 contracts are up by less than 40 cents, as the other nearby contracts are down by as much as 90 cents. Feeders are extending the pullback with another triple digit loss so far. Front month futures are down as much as $2.50 for midday. USDA reported limited cash sales for near $184 on Tuesday. The CME Feeder Cattle Index from 9/25 was 16 cents weaker to $253.90.
USDA’s Wholesale Boxed Beef report showed Choice boxes were 88 cents stronger on Wednesday morning, while Select dropped 56 cents. USDA estimated the week’s FI cattle slaughter through Tuesday at 255k head. That is 7k head more than last week and +3k yr/yr.
Oct 23 Cattle are at $185.275, up $0.475,
Dec 23 Cattle are at $188.575, up $0.100,
Feb 24 Cattle are at $192.750, down $0.300,
Cash Cattle Index was $183.000, from $182.48 last week
Sep 23 Feeder Cattle are at $251.550, down $1.050
Oct 23 Feeder Cattle are at $252.300, down $1.575
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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