Cattle Trade Pushing Higher on Tuesday
Live cattle futures are up 45 cents to $1 on Tuesday. Cash trade last week was mostly $186 in the South, up $1 on the week. Northern action was $187 live and $296 in the beef up $2 from the previous week.
Feeder cattle futures are 80 cents to $1.20 higher so far on the day. The CME Feeder Cattle Index was back up 70 cents at $247.48 on October 4. The weekly OKC feeder cattle auction sold 4,683 head this week, which is down from 5,878 head last week and 6,121 head the year prior. Heavier weight steers over 700 lbs were steady to $2 higher, with the lighter weights $7-11 higher. Heifers over 650 lbs were up $5-8, with heifers below that up $1-5.
USDA wholesale Boxed Beef prices were mixed in the Tuesday AM report. Choice boxes were up $1.09 to $307.02/cwt, with Select 18 cents lower @ $289.15. The Chc/Select spread widened to $17.87. USDA estimated Monday’s federally inspected cattle slaughter at 110,000 head. That is 9,000 head below the previous Monday and down 13,196 head from the Monday last year.
Oct 24 Live Cattle are at $188.425, up $0.950,
Dec 24 Live Cattle are at $187.725, up $0.700,
Feb 25 Live Cattle are at $188.775, up $0.475,
Oct 24 Feeder Cattle are at $250.050, up $1.200
Nov 24 Feeder Cattle are at $249.950, up $0.800
Jan 25 Feeder Cattle are at $247.175, up $1.000
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.