Front month fat cattle futures are trading lower through midday with losses of as much as $2.45. That has the board back to the lows for the week and a net $3.37 loss Fri/Fri so far. USDA confirmed Thursday cash sales from $183 to $185, reporting the bulk of Southern trade near $183 and Northern trade near $184. Feeder cattle futures are down another $1.97 to $2.95 so far. The CME Feeder Cattle Index was $252.20 on 9/27, down by $1.07.
Wholesale Boxed Beef prices were mixed again Friday morning widening the Chc/Sel spread to $25.08 on a 90c increase for Choice and an 11 cent discount for Select. Federally inspected cattle slaughter was estimated at 505,000 head for the week through Thursday. That is 7k head more than last week’s pace, but trails the same week last year by 2k head.
| Oct 23 Cattle | are at $184.725, down $1.775, |
| Dec 23 Cattle | are at $188.225, down $2.200, |
| Feb 24 Cattle | are at $192.825, down $1.800, |
| Cash Cattle Index | was $183.000, from $183.00 last week |
| Oct 23 Feeder Cattle | are at $252.325, down $2.400 |
| Nov 23 Feeder Cattle | are at $255.050, down $2.625 |
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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