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Thursday, March 23, 2023 12:53:25 PM
Cattle Dropping So Far Through Thursday
By: Barchart | March 23, 2023
Live cattle futures are off their lows, but still down by 10 to 25 cents for midday. The only sale for the FCE’s 913 head listed was for 84 South Dakota heifers at $164. USDA confirmed some cash trade Wednesday from $162 to $165, with the bulk of trading $1 lower near $163. Feeder cattle futures are trading mixed but mostly higher with the board 55 cents within UNCH. The CME Feeder Cattle Index was down by 11 cents to $187.69 for 3/21.
Beef export sales from the week that ended 3/16 were 18,642 MT. That was a 5% increase for the week, but was still down from 27.5k MT booked during the same week last year. USDA’s FAS reported South Korea as the top buyer with 10.8k MT of the total. Total beef commitments were marked at 167,715 MT through 3/16. That is 44% behind last year’s record pace.
USDA’s wholesale Boxed Beef prices were mixed again on Thursday morning, with Choice another $1.95 higher and Select down by another 32 cents. USDA estimated the week’s FI cattle slaughter at 378k head through Wednesday. That remains even with last week and 15k head above the same week last year.
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By: Barchart | March 23, 2023
Live cattle futures are off their lows, but still down by 10 to 25 cents for midday. The only sale for the FCE’s 913 head listed was for 84 South Dakota heifers at $164. USDA confirmed some cash trade Wednesday from $162 to $165, with the bulk of trading $1 lower near $163. Feeder cattle futures are trading mixed but mostly higher with the board 55 cents within UNCH. The CME Feeder Cattle Index was down by 11 cents to $187.69 for 3/21.
Beef export sales from the week that ended 3/16 were 18,642 MT. That was a 5% increase for the week, but was still down from 27.5k MT booked during the same week last year. USDA’s FAS reported South Korea as the top buyer with 10.8k MT of the total. Total beef commitments were marked at 167,715 MT through 3/16. That is 44% behind last year’s record pace.
USDA’s wholesale Boxed Beef prices were mixed again on Thursday morning, with Choice another $1.95 higher and Select down by another 32 cents. USDA estimated the week’s FI cattle slaughter at 378k head through Wednesday. That remains even with last week and 15k head above the same week last year.
Read Full Story »»»
DiscoverGold
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