Cattle Bouncing Higher on Tuesday
Live cattle futures are up 45 to 50 cents on Tuesday. Cash trade saw some light $350 action in the North on Monday as reported by USDA. Feeder cattle futures are up 87 cents to $1.65 at the midday portion of the session. The CME Feeder Cattle Index was $1.72 on September 24 to $338.79. The weekly OKC feeder cattle auction had an estimated 5,823 head for sale, with sales steady to $3 lower on feeder steers and steady on heifers. Calves were $5 to $15 lower for steers and $2-8 lower for heifers.
The Monday Crop Progress report showed the US pasture rating at 19% gd/ex, up 2% on the week. The Brugler500 index was back up 6 points to 248.
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Wholesale Boxed Beef prices were higher in the Tuesday AM report, with the Chc/Sel at $20.87. Choice boxes were up $2.80 at $382.28, with Select $4.18 higher to $362.41. USDA estimated Federally inspected cattle slaughter for Monday at 95,000 head. That was even with last Monday and 10,000 head below the same Monday last year.
Oct 26 Live Cattle are at $217.900, up $0.450,
Dec 26 Live Cattle are at $221.275, up $0.475,
Feb 27 Live Cattle are at $223.450, up $0.500,
Oct 26 Feeder Cattle are at $333.550, up $1.650
Nov 26 Feeder Cattle are at $330.625, up $1.350
Jan 27 Feeder Cattle are at $322.850, up $0.875
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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