The cattle market is back up by $1.15 to $1.55 across the front month futures. That still has Dec contracts at a net $3.77 loss for the week’s net move. USDA reported limited cash action in NE, mostly near $180 and down $5 from last week. Feeder cattle are $2 to $2.62 higher at midday, limiting Jan’s weekly move to a $7 loss through Wednesday. The CME Feeder Cattle Index dropped 3 cents to $238.89 for 11/06.
Wholesale Boxed Beef prices were mixed in the Wednesday morning update. Choice was down by $1.60 to $298.78, while Select increased 89 cents to $270.37. Tuesday’s FI cattle slaughter was reported at 125k head for a week-to-date pace of 247,000 head. That is 3k head behind both last week’s pace and the same week last year.
Dec 23 Cattle are at $179.925, up $1.150,
Feb 24 Cattle are at $179.725, up $1.300,
April 24 Cattle are at $181.775, up $1.175,
Cash Cattle Index was $185.000, from $185.50 last week
Nov 23 Feeder Cattle are at $234.425, up $2.200
Jan 24 Feeder Cattle are at $232.575, up $1.750
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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