Cattle have again seen ~$1 range so far on Wednesday, and are trading near their daily lows with 50 cent losses at midday. Live cattle futures kept to a relatively tighter range on Tuesday also as April printed a $1 range. Feeder cattle are also trading 32 to 70 cents in the red. The CME Feeder Cattle Index was 16 cents stronger for 3/18 at $251.02, now a premium to the futures. Â
Traders are looking for NASS to show March 1 on feed at 11.79m head, which would be 0.9% above last year if realized. Estimates for placements range from a 4.5% increase to an 8.8% increase from Feb ’23. Feb marketings are expected to come in 3.8% over last year on average.Â
USDA’s Boxed Beef prices weakened in the AM update with Choice down by 28 cents and Select $1.68 weaker. USDA reported the Tuesday FI cattle slaughter at 122k head for a week to date total of 242,000. That compares to 233k head last week and to 251k head during the same week last year. Â
April 24 Cattle  are at $187.450, down $0.600,
Jun 24 Cattle  are at $184.400, down $0.600,
Aug 24 Cattle  are at $183.450, down $0.575,
Cash Cattle Index was $185.400, from $184.63 last week
Mar 24 Feeder Cattle  are at $249.975, down $0.700
April 24 Feeder Cattle  are at $254.475, down $0.600
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.
/A%20Palantir%20sign%20displayed%20on%20an%20office%20building%20by%20Poetra_RH%20via%20Shutterstock.jpg)
/Quantum%20Computing/A%20concept%20image%20showing%20a%20ray%20of%20light%20passing%20through%20cyberspace_%20Image%20by%20metamorworks%20via%20Shutterstock_.jpg)
/International%20Business%20Machines%20Corp_%20logo%20on%20storage%20rack-by%20Nick%20N%20A%20via%20Shutterstock.jpg)
