Live cattle futures are showing gains of $3.10 to $3.75 so far at Friday’s midday. Cash trade has popped up on Friday at $232 in the north, with southern bids still $228-229. Feeder cattle futures are up another $5.37 to $7.10 to start the year. The CME Feeder Cattle Index was up 21 cents to $348.65 on December 31.
Commitment of Traders data indicated spec traders in live cattle at a net long position of 94,868 contracts as of 12/23, an addition of 3,565 contracts on the week. Managed money was net long 14,629 contracts in feeder cattle.
USDA Wholesale Boxed Beef prices back higher in the Friday morning report, with the Chc/Sel spread at just $1.76. Choice boxes were up $1.25 to $348.70, while Select was $4.56 higher at $346.94. Wednesday’s USDA federally inspected cattle slaughter was estimated at 85,000 head, taking the week to date total to 325,000 head.
Feb 26 Live Cattle are at $235.350, up $3.750,
Apr 26 Live Cattle are at $235.500, up $3.300,
Jun 26 Live Cattle are at $229.875, up $3.100,
Jan 26 Feeder Cattle are at $355.625, up $5.375
Mar 26 Feeder Cattle are at $352.200, up $6.875
Apr 26 Feeder Cattle are at $351.325, up $7.100
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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