Live cattle futures are up $3.97 to $4.60 so far on Tuesday. Cash trade has yet to take place this week. Last week was $220 in the South, with some northern trade at $208-210. Feeder cattle futures are rallying, with $7.50 to $7.90 gains on Tuesday and coming off early limit higher moves. The CME Feeder Cattle Index was up 94 cents to $319.70 on November 28. Monday’s OKC auction had 4,248 head sold with feeders steers up $8-15 and heifers up $15-25. Calves were $20-30 higher.
USDA reported Wholesale Boxed Beef prices lower in the Friday PM report, with the Chc/Sel spread widening to $13.06. Choice boxes were up $2.69 to $366.20, while Select was $4.74 lower at $353.14. USDA federally inspected cattle slaughter was estimated at 115,000 head for Monday. That was 5,000 head below last week and 1,388 head shy of the same week last year.
Dec 25 Live Cattle are at $218.175, up $3.975,
Feb 26 Live Cattle are at $220.425, up $4.500,
Apr 26 Live Cattle are at $222.150, up $4.600,
Jan 26 Feeder Cattle are at $328.975, up $7.900
Mar 26 Feeder Cattle are at $323.025, up $7.500
Apr 26 Feeder Cattle are at $322.400, up $7.550
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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