Cattle Close Higher on Monday
Front month fat cattle ended the session off their highs, but still 22 to 77 cents in the black. Feeder cattle ended the first trade day of the month with 80 to $1.30 gains. USDA had $183-$184 as the bulk of cash business last week. The 9/28 CME Feeder Cattle Index was $252.11, down by 9 cents.
Monday’s AM Wholesale Boxed Beef report had Choice $2.15 stronger to $302.93 and Select $2.87 higher at $278.91. Last week’s federally inspected cattle slaughter was estimated at 612,000 head through Saturday. That is 13k head lighter wk/wk and is down 55k head from the same week last year. USDA has the YTD pace down 4.4% yr/yr.
Oct 23 Cattle closed at $184.425, up $0.225,
Dec 23 Cattle closed at $188.350, up $0.425,
Feb 24 Cattle closed at $193.175, up $0.675,
Oct 23 Feeder Cattle closed at $253.325, up $0.850
Nov 23 Feeder Cattle closed at $255.700, up $0.800
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.
