Cattle Falling on Tuesday
Live cattle futures are falling back at midday, with losses of $1.70 to $2.70. Monday was first notice day for June live cattle, with no deliveries issued. Cash trade has yet to see much action this week. Last week saw wide ranges, mostly $225-232 in the South and topping near $235. North action was mostly $240-242, reaching $244 in some spots.
Feeder cattle futures are down 90 cents to $1.15. The CME Feeder Cattle Index was up $4.30 on June 6 with an average price of $310.46. There were 4,293 head for sale in Monday’s OKC feeder cattle auction, with price action for feeders $5-10 higher.
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USDA’s National Wholesale Boxed Beef prices were higher on Tuesday morning, narrowing the Chc/Sel spread to $11.34. Choice boxes were back up $3.91 at $371.16, while Select was quoted 89 cents higher at $358.82/cwt. USDA’s Federally inspected cattle slaughter for Monday was estimated at 115,000 head. That is even with last week but down 7,172 head from the same week last year.
Jun 25 Live Cattle are at $225.300, down $1.700,
Aug 25 Live Cattle are at $216.575, down $2.675,
Oct 25 Live Cattle are at $213.725, down $2.150,
Aug 25 Feeder Cattle are at $310.500, down $1.150
Sep 25 Feeder Cattle are at $309.625, down $1.075
Oct 25 Feeder Cattle are at $307.475, down $0.900
On the date of publication, Austin Schroeder 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.
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