The Feb live cattle contract faded into the close and ended Wednesday 2 cents in the red. The other front months held on for midweek gains of 7 to 42 cents. USDA had minimal cash action on Wednesday, mostly near $175. Front month feeder cattle ended the day with $0.85 to $1.25 gains on Wednesday. The CME Feeder Cattle Index for 1/9 was $228.41, back up by 72 cents.
USDA’s Wholesale Boxed Beef prices were stronger on Wednesday with a $2.91 increase for Choice and a $4.11 stronger Select quote. FI cattle slaughter was reported at 301k head for the week through Wednesday, compared to 380k head during the same week last year. Winter weather caused early week downtime at several packing plants.
Feb 24 Cattle closed at $170.750, down $0.025,
Apr 24 Cattle closed at $173.675, up $0.075,
Jun 24 Cattle closed at $171.100, up $0.350,
Jan 24 Feeder Cattle closed at $224.625, up $0.850
Mar 24 Feeder Cattle closed at $226.125, up $1.250
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.
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