Fat cattle futures are trading 15 to 52 cents higher at midday. Futures are off their earlier highs but working midrange for the day’s already wide $1.20 range. The cash market was un-established through Monday, as trades last week were mainly near $140 in the South and $146 in the North. Feeder cattle prices are 80 cents to $1.30 in the black through midday. The CME Feeder Cattle Index fell another 40 cents on 4/29 to $155.24.
USDA’s Wholesale Boxed Beef quotes were $1.75 weaker in Choice and 98 cents higher in select this morning. USDA estimated Monday’s federally inspected cattle slaughter at 115k head. That’s down 10k wk/wk but matches the same Monday last year.
Jun 22 Cattle are at $135.700, up $0.500,
Aug 22 Cattle are at $137.475, up $0.425,
Oct 22 Cattle are at $144.525, up $0.475,
May 22 Feeder Cattle are at $162.500, up $1.075
Aug 22 Feeder Cattle are at $175.775, up $1.700
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