Cattle Rallying on Tuesday
Live cattle futures are posting Tuesday strength of $2.95 to $3.40 in the nearbys at midday. A few cash sales were reported early last week at $201 in the South, with late week sales jumping up to $208 in KS. Northern trade has pushed up to $205-212, with a bulk at $210-212.
Feeder cattle futures are up $2.55 to $3 at midday, with Jan up 92 cents ahead of Thursday’s expiration. The CME Feeder Cattle Index was back down 35 cents from the day prior at $277.93 on January 24. The weekly OKC feeder cattle auction has an estimated 13,638 head for sale Monday. Sales were firm to $5 higher and even up $10.
USDA wholesale Boxed Beef prices were higher in the Tuesday AM report, with the Chc/Sel spread @ $9.63. Choice boxes were back up $2.46 at $332.54/cwt, with Select $2.36 higher at $322.91. USDA estimated federally inspected cattle slaughter are 114,000 head on Monday. That is 1,000 head below last Monday and down 8,806 head from the same Monday last year.
Feb 25 Live Cattle are at $208.650, up $2.975,
Apr 25 Live Cattle are at $207.225, up $3.400,
Jun 25 Live Cattle are at $201.150, up $2.950,
Jan 25 Feeder Cattle are at $280.650, up $0.925
Mar 25 Feeder Cattle are at $277.800, up $2.550
Apr 25 Feeder Cattle are at $277.375, up $2.950
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
