Through Monday’s midday the live cattle market is $0.37 to $1.05 in the red. Feeder cattle are also fading with losses of as much as $1.20 so far. USDA confirmed some moderate cash sales action again on Friday. The week’s bulk prices were $2 stronger near $178 in NE and steady near $170 in TX. USDA’s OKC Feeder Auction review showed 9,500 head were sold with a 42%/53% steer to heifer ratio. The CME Feeder Cattle Index was 25 cents weaker on 5/18 to $202.36.
NASS confirmed 11.608m head of cattle on feed in 1,000+ head lots on May 1st. That was down 3.44% from last year’s inventory and matched the pre-report estimate. April placements were 1.748m head, that was down 4.2% yr/yr. The average pre-report estimate was to see a 3.7% drop off. The COF report showed April marketings of 1.701m head, down more than anticipated and thus offsetting the lighter placements.
USDA’s Wholesale Boxed Beef report showed Choice boxes were up 62 cents and Select was $1.40 higher on Monday morning. USDA estimated the week’s FI cattle slaughter at 642,000 head through Saturday, for a year-to-date total of 12.565 million. Last year’s pace was 12.988m head.
Jun 23 Cattle are at $164.825, down $0.900,
Aug 23 Cattle are at $163.425, down $0.875,
Oct 23 Cattle are at $168.000, down $0.450,
Cash Cattle Index was $170.000, from $170.00 last week
May 23 Feeder Cattle are at $206.625, up $0.350
Aug 23 Feeder Cattle are at $234.400, down $0.700
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.
