Live cattle futures are down 7 to 65 cents in the front months so far on Tuesday, giving back some of the Monday limit gains. Last week’s cash trade was reported at $225-230 in the north, with $230-232 Southern sales. Monday activity was quiet with showlists being compiled. Feeder cattle futures are extending the bounce, up 2.50 to $3.95 at midday . The CME Feeder Cattle Index was back down $1.86 to $344.37 on November 6. The weekly OKC feeder cattle auction had 6,113 head for sale, with feeders steady to $5 lower. Steer calves were $5-10 lower, with heifers steady. Tuesday has expanded limits of $10.75 for live cattle and $13.75 for feeders.
USDA Wholesale Boxed Beef prices are seeming to ignore the President’s post from last week as consumers keep buying, with a higher Tuesday AM print. Choice boxes were up $3.10 to $380.42, while Select was 70 cents higher at $360.40. USDA federally inspected cattle slaughter for Monday was at 113,000 head. That is 4,000 head above last Monday and 713 head above the same week last year.
Dec 25 Live Cattle are at $227.900, down $0.650,
Feb 26 Live Cattle are at $226.925, down $0.075,
Apr 26 Live Cattle are at $226.600, down $0.375,
Nov 25 Feeder Cattle are at $339.600, up $3.950
Jan 26 Feeder Cattle are at $331.650, up $2.825
Mar 26 Feeder Cattle are at $325.900, up $2.675
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.
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