Nearby cattle prices are up another 75 cents to $1.35 for Friday’s midday. Feeder cattle are $1.92 in the black so far. Cash sales for Thursday were confirmed $1.50 stronger to near $175 in the South. USDA has 38k confirmed sales from $173 to $177.50. The CME Feeder Cattle Index firmed up by 47 cents to $230.68 on 1/24.
Weekly beef export sales were 22,400 MT for the week ending 1/25. That was the largest sale since the week of Feb 8th 2023. The week’s export shipment was 16k MT for a yearly total of 38k MT. That is 52% ahead of last year’s pace.
Wholesale Boxed Beef prices were mixed on Thursday with an 82c drop in Choice and a 61c increase in the Select. USDA FI cattle slaughter was 492k head for the week through Thursday, compared to 462k head last week and 500k head during the same week last year.
Feb 24 Cattle are at $178.575, up $0.850,
April 24 Cattle are at $181.600, up $0.900,
Jun 24 Cattle are at $179.000, up $1.400,
Cash Cattle Index was $173.000, from $173.00 last week
Mar 24 Feeder Cattle are at $240.875, up $2.700
April 24 Feeder Cattle are at $246.450, up $2.525
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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