Live cattle futures were back down by 22 to 75 cents across the front months for the midweek session. That has April at a $1.20 drop for the week’s move. Feeder cattle futures were $0.92 to $1.30 weaker across the front months at the close. That has the April contract sitting a net $2.12 weaker for the week’s move. USDA reported some more light action near $183 on Wednesday, though a trend is mostly unestablished for the week. The 3/5 CME Feeder Cattle Index fell 20 cents to $246.90.
Brazil’s Feb beef shipments were 179k MT, which was a 42% increase from Feb ’23.
USDA cited Wholesale Boxed Beef prices at $304.91 in Choice and $295.09 in Select on Wednesday afternoon; those were 12c and 22c stronger respectively. USDA saw the week’s FI cattle slaughter at 362k head through Wednesday. That compares to 372k head last week and was 13.6k head behind the same week last year’s pace.
Apr 24 Cattle closed at $187.250, down $0.750,
Jun 24 Cattle closed at $183.275, down $0.250,
Aug 24 Cattle closed at $182.400, down $0.375,
Mar 24 Feeder Cattle closed at $251.025, down $1.275
Apr 24 Feeder Cattle closed at $255.875, down $1.300
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.
