Cattle Market Lower on Higher Feed
Alan Brugler - Barchart - Wed Apr 14, 9:25PM UTC
Related Stocks
 LEJ24 - Live Cattle
SymLastChgPct
LEJ24181.475s+0.300+0.17%
LEQ24173.550s+0.025+0.01%
GFJ24241.325s-0.275-0.11%
GFK24242.000s-0.550-0.23%

Live cattle futures were weaker again on Wednesday, posting 30 to 85 cent losses. Cash business for the week remains mostly unestablished so far, save for some light $121 trade in KS and TX. The weekly FCE auction resulted in no sales from the 3,643 head listed. Most asks were $122 to $122.50, while bids were capped at $121-$122. Some NE feedlots passed on $126 bids, seeking $128. Central Stockyards will also be hosting a Thursday auction. Feeder cattle futures were down triple digits with losses of as much as $1.90. The CME Feeder Cattle Index was up 30 cents on 4/12 to $141.91.     

Wholesale Boxed Beef prices were higher this afternoon, with a $2.80 increase in Choice boxes and a $0.77 increase for Select. Choice rib primals were quoted at $461.38 cwt. compared to $427.25 for Select. USDA’s estimate for WTD cattle slaughter through Wednesday is 343,000 head, which is 2k head below last week’s pace.   

Apr 21 Cattle  closed at $122.100, down $0.300,

Aug 21 Cattle  closed at $120.175, down $0.725,

Apr 21 Feeder Cattle  closed at $141.150, down $1.300

May 21 Feeder Cattle  closed at $145.425, down $1.900



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