Cattle Extending Rally to Tuesday
Live cattle futures are showing $2.12 to $3.05 gains so far at Tuesday’s midday. Feeder cattle futures are trading with contracts up $1.35 to $2.70 at midday. The CME Feeder Cattle Index was back down $4.56 on November 6 to $332.85. The Monday OKC feeder cattle auction had 4,777 head for sale, with feeders steady and calves $10-20 higher on steers and $5-15 on heifers.
Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel at $11. Choice boxes were up $2.57 to $365.31, with Select 58 cents higher at $354.31. USDA estimated Federally inspected cattle slaughter for Monday at 107,000 head. That was up 3,000 head from the week prior but down 5,527 head from the same week last year.
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Dec 26 Live Cattle are at $219.250, up $3.050,
Feb 27 Live Cattle are at $222.475, up $2.375,
Apr 27 Live Cattle are at $225.025, up $2.125,
Nov 26 Feeder Cattle are at $329.700, up $1.350
Jan 27 Feeder Cattle are at $326.225, up $2.050
Mar 27 Feeder Cattle are at $322.900, up $2.700
On the date of publication, Austin Schroeder did not directly have a position 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.