Live cattle futures are up $3.67 to $5.02 at midday. Cash trade settled in last week at $239-240 in the South, with Northern sales of $237-238. Feeder cattle futures are trading with gians of $4.47 to $7.50 on Monday, with some back months posting limit gains. The CME Feeder Cattle Index was back down $1.99 at $360.63 on September 18. The weekly OKC feeder cattle auction has an estimated 5,000 head for sale, with a stronger undertone reported early.
Over the weekend Mexico reported a case of the new world screwworm within 70 miles of the US border. That likely leaves the border closed for a more prolonged period, though it is creeping further northward.
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USDA’s monthly Cattle on Feed release from Friday afternoon showed August Placements down 9.92% at 1.78 million head, with August marketings 13.63% below last year at 1.571 million head. September 1 on feed was 1.05% below September 2024 at 11.08 million head.
CFTC data indicated managed money trimming their net long in live cattle futures and options by 3,256 contracts as of Tuesday, taking it to 127,747 contracts. In feeder cattle futures and options, specs were increasing their net long by 255 contracts to 25,891 contracts.
USDA Wholesale Boxed Beef prices got a bounce higher in the Monday morning report, with the Chc/Sel spread at $20.06. Choice boxes were up 35 cents at $382.40, while Select was $2.42 higher to $362.34. USDA federally inspected cattle slaughter for last week was estimated at 552,000 head. That was 13,000 head below last week and 62,409 head lower vs. the same week in 2024.
Oct 25 Live Cattle are at $237.250, up $3.675,
Dec 25 Live Cattle are at $240.350, up $4.625,
Feb 26 Live Cattle are at $242.475, up $5.025,
Sep 25 Feeder Cattle are at $363.625, up $4.475
Oct 25 Feeder Cattle are at $361.600, up $7.500
Nov 25 Feeder Cattle are at $360.175, up $9.250
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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