Live cattle futures found some footing to close out Friday, with gains of 15 cents to $1. December was down $2.20 on the week. Cash trade was reported at $225-227 last week across the country, with a few at $228 in the South. Some late Northern sales were $218-222. Feeder cattle futures posted gains of $1.50 to $2.10 at the close. January held onto a 97 cent gain last week despite, a couple limit moves both higher and lower. The CME Feeder Cattle Index was back up $1.31 to $343.73 on November 13.
On Friday, the White House cut back the tariffs on several food import items, specifically beef among others, though Brazil still has a 40% tariff.
USDA Wholesale Boxed Beef prices were weaker in the Friday PM report, narrowing the Chc/Sel spread to $16.49. Choice boxes were down $2.84 to $370.73, while Select was 79 cents lower at $354.24. USDA federally inspected cattle slaughter for last week at 576,000. That is 16,000 head above last week and 32,810 head below the same week last year.
Dec 25 Live Cattle closed at $219.150, up $0.150,
Feb 26 Live Cattle closed at $219.525, up $0.575,
Apr 26 Live Cattle closed at $219.575, up $0.975,
Nov 25 Feeder Cattle closed at $338.675, up $1.675,
Jan 26 Feeder Cattle closed at $320.550, up $2.100,
Mar 26 Feeder Cattle closed at $313.350, up $1.575,
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.
