Cattle Firming Up on Turnaround Tuesday

Live cattle futures are trading ~50 cents off their daily highs, but still 72 to 92 cents in the black. Feeders are back up by as much as $1.40 across the front months. USDA had minimal cash activity for Monday. USDA’s OKC Feeder Auction review showed prices were $3 to $8 higher for the 6.5k head sold. The 3/8 CME Feeder Cattle Index was 50 cents lower to $248.24.  

USDA’s Wholesale Boxed Beef prices increased another $3.63 in Choice this morning and were up by 90 cents in Select. Federally inspected cattle slaughter was estimated at 111,000 head for Monday. That is 5k head behind last week and is nearly 11k head under the same week last year.  

April 24 Cattle  are at $188.100, up $0.500,

Jun 24 Cattle  are at $183.900, up $0.875,

Aug 24 Cattle  are at $183.025, up $0.975,

Cash Cattle Index was $184.630, from $181.84 last week

Mar 24 Feeder Cattle  are at $248.950, up $0.700

April 24 Feeder Cattle  are at $253.700, up $0.600

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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