Front month cattle futures ended the day near the session lows with $6 to $6.75 losses. The Dec contract finished $13.70 under the contract high. Feeder cattle also collapsed on Monday with 1.7% to 3% losses of over $7 for the deferred months. The complex will trade with expanded limits on Tuesday. Cash trade for last week strengthened $1-2 on the week, with Southern trade centered around $184-185 and Northern cattle exchanging hands at $186-187. The CME Feeder Cattle Index fell another 43 cents to $243.56 for 10/20.
USDA’s Wholesale Boxed Beef prices were mixed on Monday as the Choice quote fell 84c but Select was up by $2.32. That had the Chc/Sel spread at $23.52. USDA had Monday’s FI cattle slaughter at 125k head, compared to 124k last week and 126k during the same week last year.
Oct 23 Cattle closed at $178.250, down $6.025,
Dec 23 Cattle closed at $178.350, down $6.275,
Feb 24 Cattle closed at $180.975, down $6.750,
Oct 23 Feeder Cattle closed at $237.625, down $4.200
Nov 23 Feeder Cattle closed at $235.800, down $6.425
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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