Live cattle futures are mixed, with contracts 75 cents lower to 20 cents higher. Cash trade saw trade at $248-249 in the South last week with some northern action near $249-250. Feeder cattle futures are trading with 20 cent to $1.12 gains at midday. The CME Feeder Cattle Index was back up $2.57 to $366.67 on April 9. The OKC feeder cattle auction from Monday has 5,000 head for sale.
CFTC data from Friday afternoon showed managed money at a net long of 133,265 contracts in live cattle futures and options as of April 7, a 9,523 contract increase on the week. Specs in Feeder cattle futures and options added just 91 contracts to their net long to 20,202 contracts.
Wholesale Boxed Beef prices were higher in the Monday morning report, with the Chc/Sel widening the inversion to $2.54 premium to Select. Choice boxes were up $1.07 to $381.97, while Select was $3.17 higher at $384.51. USDA estimated federally inspected cattle slaughter last week at 512,000 head. That was down 21,000 head from last week and 41,972 head below the same week last year.
Apr 26 Live Cattle are at $251.050, down $0.725,
Jun 26 Live Cattle are at $248.775, down $0.425,
Aug 26 Live Cattle are at $244.800, up $0.050,
Apr 26 Feeder Cattle are at $374.350, up $0.200
May 26 Feeder Cattle are at $372.925, up $0.575
Aug 26 Feeder Cattle are at $373.575, up $1.125
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.
