Cattle Collapse into the Weekend | U.S. Finance Information
Reside cattle futures fell on the Friday session, with contracts down $1.67 to $3.55 on the close. April ended the week down $1.30. Money gross sales have been reported at $197 within the south and light-weight $198 trade within the North, each down $2 from final week. Feeder cattle headed back decrease on Friday, with losses of $1.47 to $2.85, as March was up $7.02 since final Friday. The CME Feeder Cattle Index was back up $1.42 on February 27, with the average price at $281.06.
Weekly CFTC information confirmed the managed money spec funds trimming back one other 7,158 contracts from their internet long within the week of 2/25, to a internet long at 121,311 contracts. In feeder cattle futures and choices, spec merchants cut back their file internet long by 1,925 contracts to twenty-eight,144 contracts as of Tuesday.
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Friday afternoon’s Nationwide Wholesale Boxed Beef report from USDA confirmed costs combined, with the Chc/Sel unfold back up to $9.78. Alternative bins had been up 65 cents at $311.83/cwt, with Choose 8 cents decrease to $302.05. This week’s Federally inspected cattle slaughter was estimated at 566,000 head by the USDA. That’s 3,000 head beneath the earlier week however nonetheless down 28,236 head from the identical week final yr.
Feb 25 Reside Cattle closed at $197.725, down $1.675,
Apr 25 Reside Cattle closed at $192.650, down $3.475,
Jun 25 Reside Cattle closed at $188.775, down $3.550,
Mar 25 Feeder Cattle closed at $274.975, down $1.475,
Apr 25 Feeder Cattle closed at $273.000, down $2.550,
Might 25 Feeder Cattle closed at $271.125, down $2.850,
On the date of publication,
Austin Schroeder
didn’t have (both straight or not directly) positions in any of the securities talked about on this article. All data and information on this article is solely for informational functions. For more data please view the Barchart Disclosure Coverage
right here.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
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