Live cattle futures are 15 to 60 points higher in the front months with the deferred contracts trading 5 to 17 cents lower so far. Feeder cattle are down 15 to 67 cents at midday. USDA reported cash sales at mostly $138 this week, with some light $222 in the beef. The 3/23 CME Feeder Cattle Index was $154.69, down by 28 cents.
Wholesale Boxed Beef prices were weaker in USDA’s AM report. Choice was down by 32 cents and Select was $1.55 weaker, widening the spread to $11.05 cwt. USDA estimated FI cattle slaughter for the week through Thursday at 488k head. That is down from 500k flat last week, but is up by 11k yr/yr.
Apr 22 Cattle are at $140.225, up $0.550,
Aug 22 Cattle are at $137.825, up $0.125,
Apr 22 Feeder Cattle are at $162.000, down $0.725
May 22 Feeder Cattle are at $165.925, down $0.575
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