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Cattle Pushing Rally into the New Year
Live cattle futures are trading with $1.40 to $1.50 gains on Thursday’s midday. Cash trade has yet to kick off this week, with this morning’s Fed Cattle Exchange from Central Stockyards showing sales on 136 of the 1,140 head at $194 using the BidTheGrid™ method. Other bids were reported at $188-192. Feeder cattle futures are posting $2.45 to $2.60 gains on Thursday. The CME Feeder Cattle Index was back up $7.08 from the day prior at $261.05 on December 30. USDA wholesale Boxed Beef prices were lower in the Thursday morning report. Choice boxes were down $1.67 at $322.55/cwt and Select 23 cents lower @ $294.29. USDA estimated federally inspected cattle slaughter at 102,000 head on Tuesday, taking the weekly total to 225,000 head. That is up 71,000 head from last week and well above the same week last year. Feb 25 Live Cattle are at $193.100, up $1.500, Apr 25 Live Cattle are at $195.700, up $1.425, Jun 25 Live Cattle are at $191.050, up $1.425, Jan 25 Feeder Cattle are at $265.500, up $2.475 Mar 25 Feeder Cattle are at $265.575, up $2.600 Apr 25 Feeder Cattle are at $266.050, up $2.500 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. |
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