Live cattle futures closed Tuesday with gains of 50 to 75 cents. Cash trade has been quiet so far this week with last week reported at $232-233 across the country. Feeder cattle futures posted another rally of $3.20 to $3.45 across most contracts on Tuesday. The CME Feeder Cattle Index was up another $9.26 to $362.37 on January 5. The Monday OKC feeder cattle auction had an estimated 9,266 head sold, with sales of $3-10 higher on feeder steers and heifers up $10-20. Calves were up $15-20.
USDA Wholesale Boxed Beef prices were lower in the Tuesday PM report, with the Chc/Sel spread tightening to 17 cents. Choice boxes were down $2.45 to $351.25, while Select was 42 cents lower at $351.08. Tuesday’s USDA federally inspected cattle slaughter was estimated at 118,000 head, with the week to date total at 233,000 head. That was a 7,000 head drop from last week but 9327 head below last year.
Feb 26 Live Cattle closed at $236.625, up $0.750,
Apr 26 Live Cattle closed at $237.375, up $0.575,
Jun 26 Live Cattle closed at $232.075, up $0.650,
Jan 26 Feeder Cattle closed at $362.175, up $3.200,
Mar 26 Feeder Cattle closed at $359.025, up $3.450,
Apr 26 Feeder Cattle closed at $358.125, up $3.225,
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.
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