Cattle Fade into New Week’s Trade
Live cattle futures began the week with $0.42 to $1.77 losses. April was just 20 cents off the session lows. Front month feeder cattle futures were $1.55 to $2.40 weaker. USDA confirmed light Friday cash action near $183-$184, matching the bulk of the week’s business. The CME Feeder Cattle Index was 62 cents $246.38 for 3/1.
Wholesale Boxed Beef prices were mixed on Monday afternoon as Choice increased by $1.02 and Select fell by 57 cents. USDA reported FI cattle slaughter at 116k head from 122k head last week and 124.6k during the same Monday last year.
Apr 24 Cattle closed at $186.675, down $1.775,
Jun 24 Cattle closed at $182.575, down $1.425,
Aug 24 Cattle closed at $181.925, down $0.775,
Mar 24 Feeder Cattle closed at $251.550, down $1.425
Apr 24 Feeder Cattle closed at $255.750, down $2.250
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.
