Live cattle futures closed out the Monday session with contracts a tick to 72 cents higher. Cash trade rounded out last week with sales of $184-185 in the South, up $1-2 on the week. Northern sales were in a range of $186-187.
Feeder cattle futures were down 80 cents to $1.27 on the day, pressured by gains in corn. The CME Feeder Cattle Index was back up $1.71 at $247.24 on September 27. The weekly OKC Feeder Cattle auction is estimated to have 6,200 head for sale today, above last year but slightly below last year. Sales of steers were $3-8 higher, with heifers up $4.
USDA wholesale Boxed Beef prices were higher in the Monday PM report. Choice boxes were up $1.39 to $298.08/cwt, with Select $245 higher @ $284.53. The Chc/Select spread narrowed to $13.55. USDA estimated Monday’s federally inspected cattle slaughter at 119,000 head. That is 1,000 head above the previous Monday but 4,125 head below the same Monday last year.
Oct 24 Live Cattle closed at $183.775, up $0.025,
Dec 24 Live Cattle closed at $184.800, up $0.325,
Feb 25 Live Cattle closed at $185.850, up $0.300,
Oct 24 Feeder Cattle closed at $246.200, down $0.875,
Nov 24 Feeder Cattle closed at $244.900, down $0.800,
Jan 25 Feeder Cattle closed at $238.775, down $0.825,
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
