Cattle Close Mostly Firmer on Tuesday
Front month fat cattle futures were 32 to 82 cents stronger on Tuesday. Feeders were mixed with Jan and Mar down by as much as 20c while the deferred months strengthened by 25 to 55 cents. There were no cash cattle sales confirmed for Monday or Tuesday. USDA had the bulk of the week’s cash sales near $173-$175 for the North. The weekly OKC Feeder Auction review showed 14.3k head sold were mostly $3-8 lower from the week of 12/19. The CME Feeder Cattle Index was $227.69 on 1/8, which was a $1.33 drop.
USDA’s Wholesale Boxed Beef prices recovered on Tuesday with Choice up by $1.33 and Select by $3.47. FI cattle slaughter was reported at 94k head for Tuesday, setting the weekly total to 198k head. That is 57k head behind the same week last year.
Feb 24 Cattle closed at $170.775, up $0.825,
Apr 24 Cattle closed at $173.600, up $0.575,
Jun 24 Cattle closed at $170.750, up $0.400,
Jan 24 Feeder Cattle closed at $223.775, down $0.100
Mar 24 Feeder Cattle closed at $224.875, down $0.200
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.
