Cattle Fade through Monday
Live cattle futures faded 30 to 52 cents on the first trade day of the new week. That left December at $152.57 with First Notice Day next Monday (12/5). Cash trade was unestablished today. Last week USDA saw $154-155 in the South (+$3) and $156-158 in the North. Front month feeder cattle futures closed the day $0.60 to $1.42 in the red. The USDA’s OKC Feeder Auction review showed lighter volume of 6.5k head (53% Steers, 75% under 600#) compared to 8.7k last week and 10.8k during the same week last year. The 11/25 Feeder Cattle Index from CME was up $3.56 to $177.19.
Wholesale Boxed Beef prices from the PM update were $254.53 in Choice and $228.53 in Select. For Choice that was a $2.70 bounce, but for Select it was a $5.84 drop. USDA estimated Monday’s FI cattle slaughter at 128k head, matching last week.
Dec 22 Cattle closed at $152.575, down $0.500,
Feb 23 Cattle closed at $154.675, down $0.450,
Apr 23 Cattle closed at $158.450, down $0.525,
Jan 23 Feeder Cattle closed at $176.875, down $1.425
Mar 23 Feeder Cattle closed at $180.600, down $0.950
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.Provided Content: Content provided by Barchart. The Globe and Mail was not involved, and material was not reviewed prior to publication.
