Cattle Closed Lower on Tuesday
Cattle ended Tuesday’s session with triple digit losses led by the feeders. Front month feeder cattle futures were down by over $5 for 2% losses on the day. That left the October contract $14 off the LoC high. Fat cattle were also 1.4% in the red at the close on $2.70 losses. USDA confirmed 16k head of cash cattle sales on Tuesday, mostly from $182 - $184. The 9/29 CME Feeder Cattle Index was $252.21 after a 10c increase.
The Wholesale Boxed Beef report had Choice $3.01 lower and Select $1.39 cents weaker in the PM. USDA’s federally inspected cattle slaughter was estimated at 128,000 head for Tuesday. That has the week-to-date pace at 253k head – trailing LW by 2k and the same week last year by 5k head.
Oct 23 Cattle closed at $182.125, down $2.300,
Dec 23 Cattle closed at $185.650, down $2.700,
Feb 24 Cattle closed at $190.300, down $2.875,
Oct 23 Feeder Cattle closed at $248.600, down $4.725
Nov 23 Feeder Cattle closed at $250.350, down $5.350
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.
