Cattle Pushing Higher Out of the Holiday
Live cattle futures are trading with 30 to 65 cent gains at midday on Friday. Cash trade kicked off on Wednesday with $188-190 sales reported across the country. Feeder cattle are up $1.05to $1.75 across most contracts. The CME Feeder Cattle Index was up 23 cents at $255.94 on November 26.
Export Sales data showed 4,846 MT of 2024 beef sold in the week that ended on November 21, a calendar year low. Another 5,042 MT was sold for 2025 shipment. Shipments totaled 14,536 MT, a 3-week high. The largest destination was South Korea at 4,900 MT, with Japan buying 3,300 MT.
USDA wholesale Boxed Beef prices were back mixed in the Friday AM report. Choice boxes were down 4 cents to $311.22 /cwt, with Select $1.60 higher lower @ $275.90. The Chc/Sel spread narrowed to $35.32. USDA estimated the Wednesday federally inspected cattle slaughter at 124,000 head, with the weekly total at 370,000 head. That is 1,000 head below the previous week and down 6,872 head from the same week last year.
Dec 24 Live Cattle are at $188.325, up $0.325,
Feb 25 Live Cattle are at $188.925, up $0.325,
Apr 25 Live Cattle are at $191.075, up $0.650,
Jan 25 Feeder Cattle are at $259.825, up $1.050
Mar 25 Feeder Cattle are at $259.025, up $1.725
Apr 25 Feeder Cattle are at $260.100, up $1.700
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.