Live cattle saw gains of 45 cents to $1.55 across the nearbys at the close on Monday. There were no deliveries issued against February live cattle on first notice day on Monday. Cash trade was quiet on Monday, after settling in last week at $240-244 in the north and $242-245 in the south. Action on Monday was limited. Feeder cattle futures closed with contracts a tick to 70 cents higher across most front months on Monday. The CME Feeder Cattle Index was back up 19 cents to $374.47 on February 5. The Monday OKC feeder cattle auction had an estimated 9,500 head for sale, with feeder steers steady to $5 higher and heifers up $5-15. Lighter weight calves were up $15-25.
Wholesale Boxed Beef prices were mixed in the Monday afternoon report, with the Chc/Sel spread narrowing to $2.41. Choice boxes were down $1.57 to $367.76, while Select was 82 cents higher at $365.35. USDA estimated federally inspected cattle slaughter for Monday at 107,000 head. That is 1,000 head below last Monday but 10,255 head above the same week last year.
Feb 26 Live Cattle closed at $239.300, up $1.550,
Apr 26 Live Cattle closed at $238.200, up $0.950,
Jun 26 Live Cattle closed at $234.325, up $0.475,
Mar 26 Feeder Cattle closed at $367.450, up $0.025,
Apr 26 Feeder Cattle closed at $363.200, up $0.400,
May 26 Feeder Cattle closed at $357.775, up $0.650,
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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