Cattle Continuing Slide on Tuesday
Live cattle futures are trading with $1.20 to $205 losses on Tuesday, some front months are back below the $200 level. Cash trade was at $208-209 in the South last week, with Northern sales near $208-212 live and $330-332 in the beef.
Feeder cattle futures are $1.90 $2.05 lower so far on the session. The CME Feeder Cattle Index was back down $1.05 from the day prior at $280.63 on January 31. Monday’s OKC feeder cattle auction showed 9,761 head sold, which is well below the previous week and last year. Prices for steers were down $2-7 with 600-700 lb calves $10-12 lower. Feeder heifers were down $3-7.
USDA wholesale Boxed Beef prices were higher in the Tuesday AM report, with the Chc/Sel spread @ $12.98. Choice boxes were up $1.74 at $333.73/cwt, with Select 91 cents higher at $320.75. USDA estimated the Monday federally inspected cattle slaughter at 115,000 head. That was 1,000 head above last Monday and down 8,766 head from the same Monday last year.
Feb 25 Live Cattle are at $201.775, down $1.200,
Apr 25 Live Cattle are at $198.100, down $2.050,
Jun 25 Live Cattle are at $192.850, down $1.625,
Mar 25 Feeder Cattle are at $268.600, down $1.900
Apr 25 Feeder Cattle are at $267.775, down $2.050
May 25 Feeder Cattle are at $265.900, down $2.075
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.