Live cattle futures are trading steady to 25 cents lower so far on Tuesday. Cash trade was stronger last week, as most of the country was $230. Feeder cattle futures are up $2 to $3.10 so far on Tuesday. The CME Feeder Cattle Index was up 60 cents to $347.37 on December 12. The weekly OKC feeder cattle auction showed 8,258 head sold. Feeders were $4-8 higher on the steers and steady to up $3 for heifers. Calves were $5-10 lower for steers and down $10-20 on heifers.
Commitment of Traders data for the week ending on November 25 showed managed money trimming 4,420 contracts from their net long to 92,911 contracts, the smallest since October 2024. In feeder cattle futures and options, specs were cutting back their net long by 1,382 contracts to 16,048 contracts.
USDA Wholesale Boxed Beef prices were higher in Tuesday morning’s report, with the Chc/Sel spread narrowing to $11.21. Choice boxes were up 78 cents to $360.24, while Select was $1.73 higher at $349.03. USDA federally inspected cattle slaughter was estimated at 110,000 head on Monday. That was 5,000 head below last Monday and 6,934 head shy of the same Monday last year.
Dec 25 Live Cattle are at $230.675, down $0.150,
Feb 26 Live Cattle are at $230.325, down $0.225,
Apr 26 Live Cattle are at $230.000, down $0.025,
Jan 26 Feeder Cattle are at $343.025, up $3.100
Mar 26 Feeder Cattle are at $337.150, up $2.300
Apr 26 Feeder Cattle are at $335.800, up $2.025
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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