At the close for the midweek session, front month Live Cattle futures were 2 to 7 cents weaker nearby and 10 to 65 cents higher in the deferred contracts. The weekly FCE sold 757 of the 1,802 head listed for $114-$114.25. Asks were generally $114-$115, but one NE pen asked $116. Outside of the FCE, cash cattle trade is being reported at $114 live and $180 dressed, steady with last week. Feeder Cattle futures added to midday gains and ended the session $0.47 to $1.22 higher. The 3/1 Feeder Cattle Index from CME was $137.54, down 81 cents.
Wholesale Boxed Beef prices were lower in the PM update with Choice $1.65 lower and Select down $1.93. USDA estimates the week’s FI cattle slaughter at 364k head. That trails the same week last year by 5,000 head.
--- provided by Brugler Marketing & Management
- ·Apr 21 Cattle closed at $119.400, down $0.025,
- ·Aug 21 Cattle closed at $116.900, up $0.100,
- ·Mar 21 Feeder Cattle closed at $137.000, up $0.475