Cattle are trading 40 to 95 cents higher so far through Wednesday. Feeders are also working in the black with 37 to 77 cent gains. There were no sales for the 892 head on the FCE this morning as packers bid to $166 against the $170 asks. USDA reported light cash trade for Tuesday, but maintains unestablished market conditions for the week. The 04/03 CME Feeder Cattle Index was $1.34 stronger to $193.02.
USDA’s Wholesale Boxed Beef prices were $1.18 higher in Choice this morning and 77 cents lower in Select. USDA estimated FI cattle slaughter at 126k head for Tuesday. After revising Monday lower the WTD running total is now 9,000 head below last week and 3,000 head below the same week last year at 243,000 head.
April 23 Cattle are at $168.400, up $0.800,
Jun 23 Cattle are at $160.650, up $0.425,
Aug 23 Cattle are at $160.325, up $0.550,
Cash Cattle Index was $164.000, from $163.00 last week
April 23 Feeder Cattle are at $198.375, up $0.425
May 23 Feeder Cattle are at $202.925, up $0.650
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.
