Live cattle futures closed with 20 cent losses in the nearbys and other nearby contracts higher. There have been some light cash trade picked up in the north this week at $208-210, with dressed trade at $330. Tuesday’s Fed cattle online exchange saw no sales on the 2,052 head offered, with bids of $207 in NM and TX. Last week’s cash trade was $215-219 in the North, with $220-224 in the South.
Feeder cattle futures were back up $2.10 to $3.50 on Tuesday. The CME Feeder Cattle Index was down $4.41 to $331.97 on November 24. The weekly OKC feeder cattle auction had an estimated 3,302 head for sale, with feeders down $10-20 and calves down $20-40 early.
Beef export sales in the week ending on October 9 were tallied at 12,624 MT, which was a 3-week low. Shipments were 12,602 MT in that week.
Managed money added 7,740 contracts to their net long position as of October 14 taking it to 123,754 contracts. In feeder cattle futures and options, specs trimmed their net long by 493 contracts to 25,524 contracts.
USDA reported Wholesale Boxed Beef prices mixed in the Tuesday PM report, with the Chc/Sel spread narrowing to $14.16. Choice boxes were down 40 cents to $370.09, while Select was 42 cents higher at $355.93. USDA federally inspected cattle slaughter for Tuesday was estimated at 125,000 head, with the week to date total at 245,000. That 8,000 head above last week but 3,479 head below the same week last year.
Dec 25 Live Cattle closed at $207.000, down $0.200,
Feb 26 Live Cattle closed at $207.325, down $0.200,
Apr 26 Live Cattle closed at $208.575, up $0.675,
Jan 26 Feeder Cattle closed at $307.075, up $2.100,
Mar 26 Feeder Cattle closed at $300.875, up $3.075,
Apr 26 Feeder Cattle closed at $299.400, up $3.300,
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.
