Fat Cattle Close Mixed
Alan Brugler, Barchart
June 16, 2022
At the close of Thursday trading, the front month fat cattle futures were within 50 cents of UNCH. June closed 20 cents higher to $137.75. USDA listed the bulk price for live cattle cash trade at $140 in KS and the South, with $145 in the North (though with a wide $140-$149 range). Dressed deals have been mostly $230 for the week. Feeder cattle futures ended the Thursday session with $1.67 to $1.97 losses. The CME Feeder Cattle Index was down by another 10 cents to $160.08, on 6/14.
Weekly FAS Export Sales data showed 17,356 MT of beef was sold during the week that ended 6/9. That was down again for the 5th consecutive week, but was 35% above the same week last year’s volume. Beef shipments from the week were 19,783 MT – mainly to Japan, South Korea and China. YTD shipments reached 422,523 MT through 6/9. That is up 3% yr/yr and remains as the new record pace.
Wholesale Boxed Beef prices from USDA’s PM report were $1.06 weaker in Choice and $0.30 cwt. weaker in Select. USDA estimates the week to date FI cattle slaughter as 495k head through Thursday. That compares to 503k from last week and 481k head during the same week last year.
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