Live cattle futures saw Tuesday again of 60 to 85 cents across most nearby contracts at the close. Early week cash action was mostly compiling showlists. Last week’s trade in the cash market was mostly $199 in the South and North trade at $199-200. Feeders were again the bullish leaders, up another $1.75 to $2 on the day. CME’s Feeder Cattle Index was another 7 cents higher on February 24, taking the index to $279.44.
The Tuesday afternoon National Wholesale Boxed Beef prices were slightly higher, with the Chc/Sel spread back up to $10.19. Choice boxes were up 59 cents at $314.32/cwt, with Select 16 cents higher to $304.13. USDA estimated the Tuesday Federally inspected cattle slaughter at 122,000, taking the weekly total to 217,000 head. That is 4,000 head above the previous week but still down 28,479 head from the same week last year.
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Feb 25 Live Cattle closed at $199.500, up $0.600,
Apr 25 Live Cattle closed at $195.725, up $0.625,
Jun 25 Live Cattle closed at $192.250, up $0.850,
Mar 25 Feeder Cattle closed at $274.225, up $1.925,
Apr 25 Feeder Cattle closed at $273.800, up $1.775,
May 25 Feeder Cattle closed at $272.325, up $1.975,
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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