Cattle Post New Lows for the Move

The nearby live cattle futures fell another triple digits, led by a $2.05 drop for Feb. Feeders were also red on Monday, closing the session with $3.65 to $3.90 losses of as much as 1.8%. There were no confirmed cash trades on Monday, though trade last week was mostly $174-$175. The 12/1 CME Feeder Cattle Index was $223.27, down by another $2.62.   

Afternoon Boxed Beef prices were weaker on Monday, with a $2.47 drop in Choice and a $2.66 weaker Select. USDA reported cattle slaughter at 125k head for Monday, compared to 123k head last week and 125k during the same Monday last year. 

 

Dec 23 Cattle  closed at $167.250, down $2.025,

Feb 24 Cattle  closed at $167.075, down $2.050,

Apr 24 Cattle  closed at $169.700, down $1.925,

Jan 24 Feeder Cattle  closed at $210.525, down $3.900

Mar 24 Feeder Cattle  closed at $213.575, down $3.650

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.

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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