Cattle Posting Higher Trade on Tuesday
Live cattle futures are trading with $1.25 to $1.35 gains at Tuesday’s midday. Trade has yet to kick off this week, with Monday mostly compiling showlists. Cash trade last week saw sales of $180-182 reported in the South, steady to $1 higher from the week prior, with the North steady to $1 higher at $181-182.
Feeder cattle futures are $1.70 to $2.50 higher at midday. The CME Feeder Cattle Index was back down 64 cents at $242.68 on September 13. The weekly OKC Feeder Cattle auction has an estimated 6,742 head for sale. Feeder steers and steer/heifer calves were noted as $3-8 higher, with feeder heifers $2-5 higher.
USDA wholesale Boxed Beef prices mixed in the Tuesday morning report. Choice boxes were down another 89 cents at $303.68, with Select 35 cents higher @ $292.49. The Chc/Select spread widened to $11.19. USDA estimated Monday’s federally inspected cattle slaughter at 121,000 head. That is 7,000 head above the previous Monday and just 52 head larger than the same Monday last year.
Oct 24 Live Cattle are at $178.575, up $1.350,
Dec 24 Live Cattle are at $179.700, up $1.350,
Feb 25 Live Cattle are at $180.750, up $1.275,
Sep 24 Feeder Cattle are at $243.000, up $1.700
Oct 24 Feeder Cattle are at $240.900, up $1.900
Nov 24 Feeder Cattle are at $238.075, up $2.500
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.