Cattle Closed Mixed on Higher Fats
Alan Brugler, Barchart
May 11, 2022
Live cattle futures were 12 cents lower in the Feb contract while June rallied back by $1.17. The other nearbys were a dime to 55 cents higher on the day. Central Stockyard’s weekly FCE auction sold 246 of the 1,317 head listed for $137. Asks for the unsold cattle were mostly $140-$141. USDA confirmed cash sales from $137 to $147 on Wednesday, with mostly $140 in TX and $144 in the North. Feeder cattle closed with $0.77 to $1.85 losses. The 5/9 CME Feeder Cattle Index was up 12 cents to $156.33.
Wholesale Boxed Beef prices weakened in the PM report by 16 cents in Choice and 17 cents in Select. USDA estimates FI cattle slaughter at 371k head for the week through Wednesday. That compares to 363k head last week and 351k head from the same week last year.
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