Feeder Cattle (P) Futures PricesFri, Apr 29th, 2016
Latest Brugler Feeder Cattle (P) Report
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Live cattle futures had most contracts down at least $2.45 on Thursday. Feeders finished mostly limit down, with the Apr16 contract expiring at $145.525 in its attempt to converge with the cash index. The CME Feeder Cattle Index for 4/27 was $144.81, down $1.81 from the previous day. Some cash cattle trade was recorded from $121 to $124 on Thursday, and dressed sales from $190 to $197. Both were down roughly $4 from last week. Choice boxed beef prices were sharply lower again on Thursday, down $2.31 to $212.50. Select boxes were $2.50 lower to $203.09. The 50% CL hamburger price has been under unusual pressure. Weekly beef export sales were 12,093 MT and not large enough to be helpful. Through Thursday, FI cattle slaughter for the week was estimated at 447,000 head, up 3,000 head from last week, but 3,000 head smaller than the same period in 2015.
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