Front month feeder cattle futures ended the day near ~60 cents under the session highs with $0.35 to $2.60 gains. Fats were stronger in the deferred months with gains of as much as 57 cents, though were down by 22 to 37 cents in the front 2 contracts. Feb is in deliveries, with 23 new delivery notices issued. USDA reported light $180-$182 cash sales on Friday, citing the bulk of action for the week was near $180. The OKC Feeder Cattle Auction review from USDA had 12.2k head sold with prices mostly $2-$5 higher. The report showed 67% of the listings were +600#s and that 56% were steers. The CME Feeder Cattle Index was 38 cents stronger on 2/19 at $242.65.
USDA’s Boxed Beef prices for Monday afternoon were $297.37 for Choice, up by 28 cents, and $287.82 for Select, up by 42 cents. Federally inspected cattle slaughter was listed at 125k head for Tuesday. That matched last week but is 1.2k head behind the same day last year. The weekly total was listed at 229k head after President’s Day.
Feb 24 Cattle closed at $184.400, down $0.375,
Apr 24 Cattle closed at $187.325, down $0.225,
Jun 24 Cattle closed at $182.950, up $0.125,
Mar 24 Feeder Cattle closed at $251.375, up $0.350
Apr 24 Feeder Cattle closed at $255.350, up $1.800
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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