Live cattle futures are 75 to 85 cents in the green so far on Monday. Cash trade was light last week with a few early $234-235 sales. A few late sales were reported at $238 in the south. Feeder cattle futures are up $1.35 to $1.85 so far on Monday. The CME Feeder Cattle Index was back down 26 cents to $362.98 on March 26. The Monday OKC feeder cattle auction has an estimated 8,000 head for sale, with a higher undertone noted early.
CFTC data indicated large managed money speculators at a net long of 110,909 contracts in live cattle futures and options, a 4,294 contract increase over the week ending on 3/24, mainly via new longs. In feeder cattle, specs were a net long of 17,810 contracts, a 123 contract increase on the week ending on Tuesday.
Wholesale Boxed Beef prices were higher in the Monday AM report, with the Chc/Sel at $4.89. Choice boxes were up $2.69 to $395.66, while Select was 90 cents higher at $390.77. USDA estimated federally inspected cattle slaughter for last week at 520,000 head. That was up 17,000 head from last week but 88,580 head below the same week last year.
Apr 26 Live Cattle are at $239.325, up $0.825,
Jun 26 Live Cattle are at $239.575, up $0.800,
Aug 26 Live Cattle are at $236.800, up $0.750,
Apr 26 Feeder Cattle are at $363.300, up $1.850
May 26 Feeder Cattle are at $361.175, up $1.350
Aug 26 Feeder Cattle are at $359.550, up $1.750
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.
