Cattle Extend Bounce through Tuesday
Live cattle ended the session with $0.92 to $1.35 gains, leaving Feb $3.22 off the low from Friday. The front month feeders were $0.70 to $1.32 in the black, save for the 67 cent pullback Feb feeders closed $2.58 in the black for the week’s move. Cash cattle sales were mostly unestablished, with some $178 sales in the WCB. USDA reported 9,169 head of feeder cattle were sold in the OKC Feeder Auction Review. Sales were mostly $5-10 lower for the steers and were $8-12 lower in the few heifers that sold (59% steer/38% heifer, and 44% +600lbs). The CME Feeder Cattle Index was $2.76 weaker to $228.64 for 11/13.
Wholesale Boxed Beef was listed at $295.67 for Choice, down by $2.18, and $267.88 in Select, down by $1.36. Tuesday’s FI cattle slaughter was 126k head, for a WTD total of 251,000 head. That compares to 247k head last week and 256k head last year.
Dec 23 Cattle closed at $175.850, up $0.925,
Feb 24 Cattle closed at $176.875, up $1.625,
Apr 24 Cattle closed at $178.800, up $1.350,
Nov 23 Feeder Cattle closed at $230.050, down $0.675
Jan 24 Feeder Cattle closed at $229.000, up $0.700
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.
