Cattle Falling on Tuesday
Live cattle futures are falling $3 to $4.55 at Tuesday’s midday. Cash trade has yet to get kicked off this week. Last week was reported at $235 in TX and $233-238 KS, with northern business at $380 dressed and $240-242 live trade in NE. Feeder cattle futures are giving back all of Monday’s gains, with losses of $4.90 to $5.35. The CME Feeder Cattle Index was down $3.21 on June 13 with an average price of $313.89.
National Wholesale Boxed Beef price action continued higher in the Tuesday morning USDA report, with the Chc/Sel spread at $14.92. Choice boxes were up another $3.07 to $385.18, while Select was quoted $2.79 higher at $370.26/cwt. USDA’s Federally inspected cattle slaughter for Monday was estimated at 103,000 head. That is 9,000 head below the week prior and 12,735 head below the same week last year.
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Jun 25 Live Cattle are at $224.025, down $3.000,
Aug 25 Live Cattle are at $211.000, down $4.550,
Oct 25 Live Cattle are at $209.050, down $3.850,
Aug 25 Feeder Cattle are at $304.875, down $5.350
Sep 25 Feeder Cattle are at $304.500, down $5.075
Oct 25 Feeder Cattle are at $302.475, down $4.900
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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