Cattle Fade on Monday
Live cattle futures were down by 20 to 35 cents across the front months. The October contract ended 7 cents in the black during the delivery process. Feeders fell by triple digits in the Oct and Nov contracts, while the deferred months were 72 to 90 cents lower. USDA had cash trade last week mostly near $183 in the South and near $185 in the North. The CME Feeder Cattle Index on 10/13 was $248.26, down by $1.85.
Boxed Beef prices were higher on Monday with a $3.87 increase for Choice and a $1.71 increase for Select. USDA estimated cattle slaughter at 124k head on Monday, down from 125k during last week and the same Monday last year.
Oct 23 Cattle closed at $185.200, up $0.075,
Dec 23 Cattle closed at $186.550, down $0.200,
Feb 24 Cattle closed at $190.650, down $0.275,
Oct 23 Feeder Cattle closed at $248.325, down $1.550
Nov 23 Feeder Cattle closed at $249.925, down $1.650
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.
