Cattle Rally to Start the Week
Live cattle futures rallied on Monday, with contracts $2.07 to $2.92 higher at the close. Cash from last week showed sales $1-6 higher than the previous week at $222-225. Feeders were the leaders, with contracts up $2.72 to $5.75 on the day. The CME Feeder Cattle Index shot up $10.49 on September 11 to $341.71. The weekly OKC feeder cattle auction showed sales on 5,800 head, with steers up $15-25 and heifers $15-20 higher.
Tuesday’s Crop Progress report showed the US pasture rating at 19% gd/ex, up 1% on the week. The Brugler500 index was back up 5 points to 248.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Wholesale Boxed Beef prices were mixed in the Monday afternoon report, with the Chc/Sel narrowing to $20.76. Choice boxes were down 63 cents at $375.31, with Select $1.42 higher to $354.55. USDA estimated Federally inspected cattle slaughter for Monday at 106,000 head. That is well above the previous week due to the holiday but 3,967 head below the same week last year.
Oct 26 Live Cattle closed at $222.250, up $2.575,
Dec 26 Live Cattle closed at $225.150, up $2.925,
Feb 27 Live Cattle closed at $226.300, up $2.300,
Sep 26 Feeder Cattle closed at $343.575, up $5.750,
Oct 26 Feeder Cattle closed at $337.850, up $5.350,
Nov 26 Feeder Cattle closed at $332.775, up $4.600,
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.
