Cattle Rally Extends to Tuesday
Live cattle futures closed the Tuesday session with the front months up 72 cents to $1.02. Cash action for early in the week was mostly compiling showlists. Last week’s business was limited, as some cattle exchanged hands at $208 in the north and $204 in the South. Feeder cattle futures posted Tuesday gains of $1.325 to $2.10. The CME Feeder Cattle Index was back up 91 cents on April 14, with the average price at $288.07.
USDA’s National Wholesale Boxed Beef prices were reported lower on Tuesday afternoon, as the Chc/Sel was back out to $20.19. Choice boxes were 20 cents lower at $335.43/cwt, with Select down 61 cents to $315.24. Tuesday’s Federally inspected cattle slaughter was estimated at 122,000 head, with the weekly total at 234,000. That was 8,000 head above the previous week but down 9,928 head from the same week last year.
Apr 25 Live Cattle closed at $204.800, up $0.850,
Jun 25 Live Cattle closed at $199.800, up $0.725,
Aug 25 Live Cattle closed at $196.850, up $1.025,
Apr 25 Feeder Cattle closed at $289.375, up $1.325,
May 25 Feeder Cattle closed at $282.525, up $1.575,
Aug 25 Feeder Cattle closed at $288.250, up $2.100,
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.