Live cattle futures were $4.55 to $5.30 higher on the Friday session with December up $1.125 last week. Open interest dropped 1,161 contracts on Friday. 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. Feeder cattle futures were up $7.80 to $8.92on the Friday close, with August the lone contract up the $9.25 limit. Today’s price limits will be the normal $9.25. January was up $9.75 last week. The CME Feeder Cattle Index was down $3.20 to $318.76 on November 27, after dropping $8.92 on the 26th.
USDA reported Wholesale Boxed Beef prices lower in the Friday PM report, with the Chc/Sel spread widening back out to $15.77. Choice boxes were down $1.46 to $366.82, while Select was $4.46 lower at $351.05. 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 closed at $215.575, up $4.550,
Feb 26 Live Cattle closed at $217.850, up $4.925,
Apr 26 Live Cattle closed at $219.550, up $5.300,
Jan 26 Feeder Cattle closed at $323.975, up $8.850,
Mar 26 Feeder Cattle closed at $317.850, up $8.800,
Apr 26 Feeder Cattle closed at $316.625, up $8.925,
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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