Cattle Market Finished Mixed on Monday
Live cattle prices were 20 to 62 cents weaker, while the feeders gained 32 to 75 cents. The front month fat cattle futures were initially higher to start the week, trading higher by as much as $2.68. There were no sales confirmed for Monday. USDA had the bulk of the week’s cash sales near $173-$175 for the North. The weekly OKC Feeder Auction review showed 14.5k head were sold with 50% steers and 45% heifers. That limited the March contract’s weekly gain to $1.05. The March contract is at a net $1.25 gain for the week. The 1/5 CME Feeder Cattle Index was up by 93 cents to $229.02.
USDA’s Wholesale Boxed Beef prices were mixed on Monday as Choice bounced by $1.67 to $278.83 while Select was 17 cents lower to $259.36. FI cattle slaughter was reported at 115k head compared to 127k head during the same Monday last year.
Feb 24 Cattle closed at $169.950, down $0.625,
Apr 24 Cattle closed at $173.025, down $0.375,
Jun 24 Cattle closed at $170.350, down $0.200,
Jan 24 Feeder Cattle closed at $223.875, up $0.750
Mar 24 Feeder Cattle closed at $225.075, up $0.925
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.
