Cattle Post Rally on Tuesday
Live cattle futures posted 50 cent to $1.575 higher trade on Tuesday. Cash trade has yet to kick off this week, with Monday mostly compiling showlists. 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 were $1.22 to $2.72 higher at the close. The CME Feeder Cattle Index was back up 76 cents at $243.44 on September 16. The weekly OKC Feeder Cattle auction saw 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 afternoon report. Choice boxes were down another 66 cents at $303.91, with Select 8 cents higher @ $292.22. The Chc/Select spread narrowed to $11.69. USDA estimated Tuesday’s federally inspected cattle slaughter at 125,000 head, taking the weekly total to 246,000 head. That is 8,000 head above the previous week and just 826 head below the same week last year.
Oct 24 Live Cattle closed at $178.800, up $1.575,
Dec 24 Live Cattle closed at $179.850, up $1.500,
Feb 25 Live Cattle closed at $181.000, up $1.525,
Sep 24 Feeder Cattle closed at $243.300, up $2.000,
Oct 24 Feeder Cattle closed at $240.750, up $1.750,
Nov 24 Feeder Cattle closed at $238.300, up $2.725,
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.