Midday cattle quotes are within 30 cents of UNCH for the front months. Tuesday’s trading has kept Feb within a 70c range – near equal parts higher and lower. Midday feeder cattle futures are up by $0.97 to $1.92. USDA had sales from $173 to $177 for the week with the bulk of action near $175. The OKC Feeder Auction Review recorded 10k head sold, with prices up $5-$10 for feeders and up by $10-$20 for calves. The listings included 44% steers/53% heifers, and 32% >600lbs. The 1/26 CME Feeder Cattle Index was $234.15, up by another $2.09.
Wednesday’s semi-annual Cattle Inventory report from NASS is expected to show an 87.6m head herd as of Jan 1. That would be the smallest national total cattle herd since 1957 if realized. Beef cows are expected to be down by 2.6% from last year.
USDA quoted Tuesday’s AM boxed beef prices at $298.46 for Choice, down by 96 cents, and at $289.20, 38 cents stronger, for Select. USDA reported FI cattle slaughter at 125k head for Monday, compared to 115k head last week and 120k during the same week last year.
Feb 24 Cattle are at $177.650, up $0.275,
April 24 Cattle are at $181.250, up $0.025,
Jun 24 Cattle are at $178.625, up $0.150,
Cash Cattle Index was $175.000, from $173.00 last week
Mar 24 Feeder Cattle are at $240.500, up $1.875
April 24 Feeder Cattle are at $246.025, up $1.425
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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