Live cattle are back down $1 to $1.32 on Tuesday’s midday. Cash action was negligible on Monday, with showlists being compiled. Last week’s trade was $183-184 live and $292 dressed in the North, steady to down $1 from the previous week. Southern trade was steady, at $182.
Feeders are showing some positive trade, up 40 to 90 cents, but pulling well off the morning highs. The CME Feeder Cattle index was back up 38 cents on April 19 to $242.11. The OKC feeder cattle auction saw feeders $4-8 higher this week, with good demand noted.
USDA’s Wholesale Boxed Beef prices shot higher in the Tuesday morning report. Choice boxes were $3.59 higher to $299.62, with Select up 74 cents at $292.61. That took the Chc/Sel spread back up to $7.01. USDA estimated cattle slaughter at 113,000 head for Monday. That was down 8,000 head from the previous week and 12,147 head below the same week last year.
Apr 24 Live Cattle are at $182.750, down $1.075,
Jun 24 Live Cattle are at $176.725, down $1.325,
Aug 24 Live Cattle are at $175.325, down $1.075,
Apr 24 Feeder Cattle are at $243.775, up $0.875
May 24 Feeder Cattle are at $245.575, up $0.400
Aug 24 Feeder Cattle are at $258.975, up $0.500
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.