Cattle Rebound to Start the Week

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Live cattle futures are posted gains of 22 cents to $1 across the front months on Tuesday. Cash trade saw a few cattle exchange hands at $232 so far this week on thin volume. Feeder cattle futures were up 70 cents to $1.55 at the close. The CME Feeder Cattle Index was down $1.26 to $367.68 on January 19. Monday’s OKC feeder cattle auction showed 9,551 head sold with prices listed as steady to $4 lower on feeders.

USDA Wholesale Boxed Beef prices were higher in the Tuesday afternoon report, with the Chc/Sel spread widening out to $4.92. Choice boxes were up 43 cents to $364.76, while Select was 49 cents lower at $359.84. Tuesday’s USDA federally inspected cattle slaughter was estimated at 114,000 head, with the weekly total at 219,00. That was 16,000 head below last week and 15,837 head shy of the same period last year.

 

Feb 26 Live Cattle  closed at $232.375, up $0.225,

Apr 26 Live Cattle  closed at $234.575, up $0.600,

Jun 26 Live Cattle  closed at $230.600, up $1.000,

Jan 26 Feeder Cattle  closed at $362.625, up $0.700,

Mar 26 Feeder Cattle  closed at $357.675, up $1.225,

Apr 26 Feeder Cattle  closed at $356.450, up $1.550,


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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