Live cattle futures are $1.30 to $2.05 lower so far on Monday. Cash trade improved late last week with $220 in the South on Friday, with some northern trade at $215, up from the $208-210 seen in the first half of the week. Feeder cattle futures are down 1 to $2.90 at midday The CME Feeder Cattle Index was down $3.20 to $318.76 on November 27. Monday’s OKC auction has an estimated 4,500 head for sale, with a higher undertone early noted.
Export Sales data showed 10,886 MT of beef sold in the week of 10/23, a 5-week low. Shipments came in at 12,684 MT, back down from the week prior.
USDA reported Wholesale Boxed Beef prices higher in the Friday AM report, with the Chc/Sel spread widening back out to $16.67. Choice boxes were up $3.83 to $370.65, while Select was $2.93 higher at $353.98. USDA federally inspected cattle slaughter for the week was totaled at 501,000 head through Saturday. That was 31,898 head below the same holiday week last year.
Dec 25 Live Cattle are at $214.275, down $1.300,
Feb 26 Live Cattle are at $215.825, down $2.025,
Apr 26 Live Cattle are at $217.525, down $2.025,
Jan 26 Feeder Cattle are at $321.075, down $2.900
Mar 26 Feeder Cattle are at $316.000, down $1.850
Apr 26 Feeder Cattle are at $315.400, down $1.225
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.
