Cattle Red at Midday
April cattle have traded within a $1.40 range through midday, from -63 cents to +77. The midday board is UNCH to 37 cents in the red. USDA had the bulk of cash cattle prices $1 to $2 above the previous week. Feeder cattle prices are down by $0.92 to $1.17 at midday. USDA reported 6,750 head was sold in the weekly OKC Feeder Auction. Of the sale, 45% were steers/54% heifers, and 74% were sub-600lbs. The CME Feeder Cattle Index was $1.17 higher at $248.07 on 3/6.
USDA’s Wholesale Boxed Beef prices were mixed in the Monday AM report, with a $1.48 increase for Choice and a 21 cent weaker Select quote. USDA’s FI cattle slaughter was marked at 484k head for the week through Thursday. That compares to 495k head last week and 501k head during the same week last year.
April 24 Cattle are at $187.575, down $0.025,
Jun 24 Cattle are at $183.025, down $0.400,
Aug 24 Cattle are at $182.050, down $0.200,
Cash Cattle Index was $181.840, from $181.84 last week
Mar 24 Feeder Cattle are at $248.300, down $0.900
April 24 Feeder Cattle are at $253.050, down $1.050
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.