The front month live cattle futures market is up 22 to 82 cents so far, with April having gotten to $173.30 earlier in the session. Feeder cattle futures are up by $0.65 to $1.42 at midday, save for the April contract that is 5 cents lower. The midweek FCE auction had no sales for the 1,242 head listed between $170 bids and $174-175 asks. The CME Feeder Cattle Index for 4/10 was 32 cents weaker at $193.01.
USDA’s Wholesale Boxed Beef prices for Wednesday morning were $3.33 higher to $298.43 for Choice and $1.04 higher to $283.08 in Select. Tuesday’s federally inspected cattle slaughter was 126k head. That set the week to date running total at 239,000 head, and trails last week’s pace by 4k head.
April 23 Cattle are at $173.250, up $0.950,
Jun 23 Cattle are at $164.350, up $0.400,
Aug 23 Cattle are at $163.550, up $0.300,
Cash Cattle Index was $170.000, from $164.00 last week
April 23 Feeder Cattle are at $202.175, up $0.075
May 23 Feeder Cattle are at $208.450, up $0.625
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.
