Midday Cattle Working Higher
Live cattle futures are trading with triple digit gains to finish the week and begin the new month. April is up by $1.65 and August is 92 cents higher so far. Midday feeder cattle are 0.75% to 1.2% higher with gains of as much as $3. USDA had Thursday’s cash sales between $181 and $184 citing the bulk of the action near $183. The CME Feeder Cattle Index was 54 cents weaker on 2/28 to $246.26.
USDA’s Boxed Beef prices were stronger on Friday morning with Choice up by $1.91 and Select $1.81 higher. FI cattle slaughter was 495k head for the week through Thursday, which compares to 472k head last week and 499.5k head during the same week last year.
April 24 Cattle are at $187.000, up $1.650,
Jun 24 Cattle are at $182.825, up $1.600,
Aug 24 Cattle are at $181.800, up $1.100,
Cash Cattle Index was $181.840, from $179.00 last week
Mar 24 Feeder Cattle are at $252.125, up $3.125
April 24 Feeder Cattle are at $257.250, up $3.525
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.
