Cattle Close Up by Triple Digits
The cattle futures market finished the day with $1.32 to $1.80 gains across the nearby contracts. Feeders were $1.92 to $3.12 higher leading the way. USDA reported cash trades for the week from $185 to $190, though the bulk of business took place on Friday with $186 sales for the South and $187-$188 for the North. Feeder cattle sales in the OKC auction totaled 6.3k head, 44%steers and 75% sub-600lbs. The 3/15 CME Feeder Cattle Index was $250.86, up by $1.86.
USDA’s Boxed Beef prices were stronger on Monday with Choice at $313.33, up by $1.43, and Select at $303.05, up by 65 cents. USDA reported Monday’s FI cattle slaughter at 120k head. That’s up from 111k head from last week and is 4.6k head below the same week last year.
Apr 24 Cattle closed at $188.575, up $1.325,
Jun 24 Cattle closed at $185.400, up $1.800,
Aug 24 Cattle closed at $184.350, up $1.725,
Mar 24 Feeder Cattle closed at $251.200, up $1.925
Apr 24 Feeder Cattle closed at $255.100, up $2.975
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.
