Cattle Rally Back on Tuesday
Live cattle futures posted gains of 55 cents to $1.15 on the Tuesday session. Cash trade was reported last week with $188-190 sales in the South and $190-192 in the North. Early action this week has been mostly compiling showlists.
Feeder cattle were up 95 cents to $2.45 across the board as the Tuesday session came to a close. The CME Feeder Cattle Index was back up $2.25 from the day prior at $259.38 on December 2. The weekly OKC feeder cattle auction showed an estimated 10,398 head listed in Monday’s sale, which is up from last week but down from the same week last year. Sales were listed at stead to $2-3 higher for feeders with 700-800 calves $5-10 higher. Calves were reported $5-10 higher and $15 in some cases.
USDA wholesale Boxed Beef prices were lower in the Tuesday PM report. Choice boxes were down $2.18 to $310.83/cwt, with Select $1.67 lower @ $275.33. The Chc/Sel spread narrowed to $35.50. USDA estimated the Tuesday federally inspected cattle slaughter at 125,000, bringing the week to date total to 242,000 head. That was down 4,000 head from last week and 9,077 head below the same week last year.
Dec 24 Live Cattle closed at $188.475, up $0.950,
Feb 25 Live Cattle closed at $189.075, up $1.150,
Apr 25 Live Cattle closed at $191.150, up $1.025,
Jan 25 Feeder Cattle closed at $259.300, up $2.450,
Mar 25 Feeder Cattle closed at $257.275, up $1.725,
Apr 25 Feeder Cattle closed at $258.125, up $1.150,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.