Cattle Losses Extend on Tuesday
Live cattle futures closed with $1.10 to $1.50 losses on Tuesday, some front months are back below the $200 level. Cash trade has yet to get kicked off this week. Sales were reported at $208-209 in the South last week, with Northern sales near $208-212 live and $330-332 in the beef. Feeder cattle futures were $2.10 to $2.25 lower on the Tuesday session. The CME Feeder Cattle Index was back down $1.18 from the day prior at $279.45 on February 3.
USDA wholesale Boxed Beef prices were lower in the Tuesday PM report, with the Chc/Sel spread @ $13.32. Choice boxes were down $1.26 at $330.73/cwt, with Select $2.43 lower at $317.41. USDA estimated the Tuesday federally inspected cattle slaughter at 122,000 head, with the week to date total at 237,000 head. That was 1,000 head below last week and down 11,985 head from the same week last year.
Feb 25 Live Cattle closed at $201.875, down $1.100,
Apr 25 Live Cattle closed at $198.650, down $1.500,
Jun 25 Live Cattle closed at $193.225, down $1.250,
Mar 25 Feeder Cattle closed at $268.250, down $2.250,
Apr 25 Feeder Cattle closed at $267.625, down $2.200,
May 25 Feeder Cattle closed at $265.800, down $2.175,
On the date of publication, Austin Schroeder 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.