Monday Losses for Cattle Trade
Front month live cattle are $1.22 to $1.85 weaker so far. Cash trade for the week was mostly $174-$175, UNCH to $1-2 weaker for the week. Feeder cattle are also more than a % in the red with $3.45 to $3.52 losses so far. The CME Feeder Cattle Index was $1.12 stronger for 11/30 at $225.89.
Morning Boxed Beef prices were weaker on Monday, with a $1.82 drop for Choice and a $1.63 drop for Select. USDA reported the week’s beef production was 529.7 million lbs on a 635k head harvest. That was down 3.8% from last year, as the YTD total trails 2022 by 5.3% on output and 4.7% on slaughter.
Dec 23 Cattle are at $167.200, down $2.075,
Feb 24 Cattle are at $167.350, down $1.775,
April 24 Cattle are at $169.925, down $1.700,
Cash Cattle Index was $175.000, from $177.00 last week
Jan 24 Feeder Cattle are at $210.600, down $3.825
Mar 24 Feeder Cattle are at $213.425, down $3.800
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.
