Live cattle firmed up this week following 5/6 weeks lower, but Friday’s session is looking to pull some back with midday losses of 20 to 45 cents. Dec is still at a net $2.40 gain for the week so far. Feeder cattle are also trading in the red after Thursday’s rally. Futures are giving back 62c to $1.47. Cash trade remains unestablished for the week through Thursday. The 11/1 CME Feeder Cattle Index strengthened by 55 cents to $237.80.
USDA’s Wholesale Boxed Beef report showed Choice dropped by $1.86 and Select was $1.80 lower. USDA estimated the week’s FI cattle slaughter at 496k head through Thursday. That is 6k head below last week, and 17k head behind the same week last year.
Dec 23 Cattle are at $184.475, down $0.200,
Feb 24 Cattle are at $185.775, down $0.650,
April 24 Cattle are at $188.400, down $0.375,
Cash Cattle Index was $185.500, from $185.50 last week
Nov 23 Feeder Cattle are at $241.125, down $1.500
Jan 24 Feeder Cattle are at $240.625, down $1.550
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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