Front month fat cattle futures are back up by 55c to $1.10 so far after closing off the lows on Monday. The feeder cattle futures are rallying triple digits with March up by $2.55 so far. cCash trade remains unestablished this week. USDA confirmed Friday cash sales near $172-$173. USDA reported 6 thousand head were sold in the OKC auction, including 63% steers and 37% heifers, and with 66% being below 600#s. The 1/19 CME Feeder Cattle Index was $1.25 firmer to $228.51.Â
China’s National Bureau of Statistics had 2023 beef production at 7.53 MMT, up by 4.8%. Â
USDA’s Wholesale Boxed Beef prices were stronger with Choice up by $2.34 to above the $300 cwt. mark on Tuesday morning. Select boxes were quoted $2.87 stronger. Federally inspected cattle slaughter was estimated at 115k head for Monday, up from 112k last week but 8k head below the same Monday last year.Â
Feb 24 Cattle  are at $174.750, up $0.975,
April 24 Cattle  are at $177.975, up $1.075,
Jun 24 Cattle  are at $175.125, up $0.850,
Cash Cattle Index was $173.000, from $173.00 last week
Jan 24 Feeder Cattle  are at $231.475, up $1.650
Mar 24 Feeder Cattle  are at $233.725, up $2.450
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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