Cattle Close Mixed on Wednesday
Cattle initially faded for Wednesday, but pulled off the lows for a mixed close within 25 cents of UNCH. Feb traded within a $1.33 range for the day. Feeder cattle were mostly higher across the front months, but were mixed as May ended with a 2c loss. The Jan contract traded within a $2.13 range. USDA confirmed 7.2k head of cattle were sold on Wednesday with most trades $2-$3 higher at $175. The 1/2 CME Feeder Cattle Index was $225.05, back down by $3.14.
USDA’s afternoon Wholesale Boxed Beef quotes were $6.31 weaker in Choice and 1c lower in in the PM report. That had Choice at $278.03 and Select at $258.85. The FI cattle slaughter for Wednesday was 128k head for a weekly total of 254k head. That compares to 258k head during the same week last year.
Dec 23 Cattle closed at $173.675, up $2.475,
Feb 24 Cattle closed at $171.850, down $0.075,
Apr 24 Cattle closed at $174.750, up $0.250,
Jan 24 Feeder Cattle closed at $226.075, up $0.650
Mar 24 Feeder Cattle closed at $227.025, up $0.575
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.
