The fat cattle futures market is trading 25 to 47 cents in the red at midday, though feeders are up by as much as 57 cents so far. USDA had minimal cash action on Wednesday, mostly near $175. The CME Feeder Cattle Index for was $227.75 on 1/10, back down by 66 cents.Â
USDA’s monthly beef production outlook raised the 2023 total by 35 million lbs to 26.967 billion. The outlook for 2024 was also raised by 120m to 26.11 billion.Â
USDA’s Wholesale Boxed Beef prices were $2.82 higher in Choice and $3 cwt. stronger in Select on Thursday afternoon, leaving the Chc/Sel spread at $15.95. Federally inspected cattle slaughter for the week was listed at 424k head through Thursday, down by 78k head from the same week last year.Â
Feb 24 Cattle  are at $171.325, down $0.475,
April 24 Cattle  are at $173.875, down $0.700,
Jun 24 Cattle  are at $171.375, down $0.600,
Cash Cattle Index was $173.000, from $172.00 last week
Jan 24 Feeder Cattle  are at $226.250, down $0.025
Mar 24 Feeder Cattle  are at $227.175, down $0.225
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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