Live cattle futures are down 12 to 60 cents in the nearby and higher in some deferreds. Cash trade for last week settled in at $202-203 in the South and $203 in the North down from $205 and $208 respectively last week. Feeder cattle futures are trading with gains $1.77 to $2.80. The CME Feeder Cattle Index was ticked just 7 points higher on February 14 to $276.30. The weekly OKC Feeder cattle auction showed 3,169 head sold with price action listed as seady.
Managed money speculators in live cattle futures and options were slashing 14,665 contracts from their net long as of Tuesday to 135,709 contracts. In feeder cattle, spec funds were adding 192 contracts to their net long at 28,367 contracts by February 11.
Tuesday morning’s National Wholesale Boxed Beef report showed mixed trade with a widening Chc/Sel spread to $12.79. Choice boxes were up $1.03 at $316.73/cwt, with Select back down $2.29 to $303.94. Monday’s Federally inspected cattle slaughter was estimated at just 95,000 head according to the USDA. That is even with Monday and 5,994 head below the Monday last year.
Feb 25 Live Cattle are at $197.150, down $0.600,
Apr 25 Live Cattle are at $193.800, down $0.450,
Jun 25 Live Cattle are at $190.325, down $0.125,
Mar 25 Feeder Cattle are at $269.150, up $2.800
Apr 25 Feeder Cattle are at $268.525, up $2.100
May 25 Feeder Cattle are at $266.775, up $1.775
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.More news from Barchart
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