Live cattle futures rallying on Tuesday, with contracts up $2.05 to $2.80 at midday. Cash trade from last week was at $232-233 across the country, with a few Monday sales at $233. Feeder cattle futures are $3.95 to $5.70 higher so far on Tuesday. The CME Feeder Cattle Index was back up 66 cents to $368.56 on January 9. The Monday OKC feeder cattle auction had 11,549 head for sale, with feeder steers steady to $2 lower and heifers firm to $4 higher. Calves were up $8-12 for steers and steady for heifer calves.
USDA Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel spread narrowing to now a $1.02 premium for Select. Choice boxes were up 91 cents to $358.02, while Select was 99 cents higher at $359.04. Monday’s USDA federally inspected cattle slaughter was estimated at 114,000 head. That was 1,000 head below last week and 2,916 shy of the same week last year.
Feb 26 Live Cattle are at $237.300, up $2.050,
Apr 26 Live Cattle are at $238.850, up $2.775,
Jun 26 Live Cattle are at $233.325, up $2.725,
Jan 26 Feeder Cattle are at $366.000, up $3.950
Mar 26 Feeder Cattle are at $361.725, up $5.550
Apr 26 Feeder Cattle are at $360.150, up $5.700
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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