Triple Digit Cattle Gains for Monday
So far through Monday’s midday the nearby cattle futures market is up by as much as $1.15. April is ~20c off the session high. Feeder cattle futures are currently 0.6% to 0.9% higher with triple digit gains of as much as $2.35. USDA reported cash trades for the week from $185 to $190, though the bulk of business took place on Friday with $186 sales for the South and $187-$188 for the North. Feeder cattle sales in the OKC auction totaled 6.3k head, 44%steers and 75% sub-600lbs. The CME Feeder Cattle Index was $249 on 3/14, up by another 54 cents.
USDA’s Boxed Beef prices increased on Monday morning with +$1.43 for Choice and +$1.40 for Select. USDA reported the week’s beef output at 501.4m lbs, up 3.6% for the week but 2.8% below the same week last year. Cattle slaughter was estimated at 601k head, which was also 3.1% above last week but was 4.3% under the same week last year.
April 24 Cattle are at $188.050, up $0.800,
Jun 24 Cattle are at $184.750, up $1.150,
Aug 24 Cattle are at $183.725, up $1.100,
Cash Cattle Index was $185.000, from $184.63 last week
Mar 24 Feeder Cattle are at $250.750, up $1.475
April 24 Feeder Cattle are at $254.425, up $2.300
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.
