Front month live cattle prices are currently $0.90 to $1.52 in the red. The final print of the month left the Feb cattle contract down by a net $12.80 for November, following October’s $7.87 loss. USDA reported the cash trade for Thursday was nearly 25k head - with trade mostly near $174 in TX, and $174-$175 in NE. Feeder cattle are trading with triple digit losses of as much as $3.97 across the front months. The CME Feeder Cattle Index was $224.77, up by $2.52 for 11/29.
USDA had Wholesale Boxed Beef prices $1.99.cwt. higher in Choice and $0.66 higher for Select. The week’s FI cattle slaughter was 494k head through Thursday, compared to 509k during the same week last year.
Dec 23 Cattle are at $170.150, down $0.725,
Feb 24 Cattle are at $170.550, down $1.275,
April 24 Cattle are at $173.100, down $1.325,
Cash Cattle Index was $175.000, from $177.00 last week
Jan 24 Feeder Cattle are at $216.825, down $3.125
Mar 24 Feeder Cattle are at $219.325, down $3.250
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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