Cows extend the slide on Tuesday
Live Cattle ended Tuesday's session with the contract further fading from $2.17 to $2.72 as April closed the board. Spot trading has not yet developed this week, and last week the southern market was stable at $182-$183, up $1. Northern trading was reported at $184 to $186, holding steady at $2 higher this week and inching up at $187. On Tuesday, the contract price fell $3.45 to $4.32, sending the feeder into near-freefall mode. The CME Feeder Cattle Index fell 18 cents to $247.00 on April 29th.
USDA wholesale boxed beef prices were lower in Tuesday's PM report. Choicebox fell $3.19 to $294.37, while Select rose 26 cents to $289.95. This narrowed the Chc/Sel spread to his $4.42. The USDA estimated the number of federally inspected cattle slaughtered on Tuesday at 124,000 head, bringing the weekly total to 237,000 head. This is a decrease of 1,000 head from last week and a decrease of 12,396 head compared to the same week last year.
April 24th Live Cow It closed at $185.000, down $0.400.
June 24th Live Cow It closed at $174.975, down $2.175.
August 24th Live Cow It closed at $173.100, down $2.575.
May 24th feeder cow It closed at $244.575, down $3.450.
August 24th feeder cow It closed at $255.500, down $4.125.
September 24th feeder cow It closed at $256.475, down $4.250.
On the date of publication, Alan Brugler I had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. Please see the Barchart Disclosure Policy for more information. here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Summarize this content to 100 words
Live Cattle ended Tuesday's session with the contract further fading from $2.17 to $2.72 as April closed the board. Spot trading has not yet developed this week, and last week the southern market was stable at $182-$183, up $1. Northern trading was reported at $184 to $186, holding steady at $2 higher this week and inching up at $187. On Tuesday, the contract price fell $3.45 to $4.32, sending the feeder into near-freefall mode. The CME Feeder Cattle Index fell 18 cents to $247.00 on April 29th. USDA wholesale boxed beef prices were lower in Tuesday's PM report. Choicebox fell $3.19 to $294.37, while Select rose 26 cents to $289.95. This narrowed the Chc/Sel spread to his $4.42. The USDA estimated the number of federally inspected cattle slaughtered on Tuesday at 124,000 head, bringing the weekly total to 237,000 head. This is a decrease of 1,000 head from last week and a decrease of 12,396 head compared to the same week last year.
April 24th Live Cow It closed at $185.000, down $0.400.June 24th Live Cow It closed at $174.975, down $2.175.August 24th Live Cow It closed at $173.100, down $2.575.May 24th feeder cow It closed at $244.575, down $3.450.August 24th feeder cow It closed at $255.500, down $4.125.
September 24th feeder cow It closed at $256.475, down $4.250.On the date of publication, Alan Brugler I had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. Please see the Barchart Disclosure Policy for more information. here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
https://www.nasdaq.com/articles/cattle-extends-slide-on-tuesday Cows extend the slide on Tuesday
