Live cattle futures are showing 85 cent to $1.55 across most contracts at midday. Cash trade was softer last week at $228 across the country and $356-358 dressed. Feeder cattle futures are $2.10 to $2.50 higher so far on Monday. The CME feeder cattle index from December 17 was up 26 cents from the day prior at $350.05.
Export Sales data showed 11,403 MT of beef sold in the week ending on 12/4, well above the week prior. Export Shipments were 11,673 MT in that week.
The December Cattle on Feed report showed November placements below estimates at 1.595 million head, a 11.19% drop from last year. That was a record low for the month. Marketings were 1.521 million head, down 11.83% vs. 2024. December 1 on feed totaled 11.727 million head, a 2.13% drop from last year and below estimates calling for a 1.6% decline.
Commitment of Traders data showed specs adding 6,082 contracts to their net long in live cattle futures and options as of December 9 to a net long of 88,290 contracts. In feeder cattle futures and options managed money added 843 contracts to their net long to 14,261 contracts as of 12/9.
USDA Wholesale Boxed Beef prices were higher in the Monday morning report, with the Chc/Sel spread narrowing to $10.69. Choice boxes were up $1.10 to $362.73, while Select was $6.02 higher at $352.04. USDA federally inspected cattle slaughter was estimated at 587,000 head for last week. That was 9,000 head below last week and 28,629 head shy of the same week last year.
Dec 25 Live Cattle are at $231.250, up $0.850,
Feb 26 Live Cattle are at $231.850, up $1.050,
Apr 26 Live Cattle are at $231.550, up $1.550,
Jan 26 Feeder Cattle are at $347.700, up $2.100
Mar 26 Feeder Cattle are at $341.600, up $2.200
Apr 26 Feeder Cattle are at $340.075, up $2.475
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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