Market Update: Cattle Futures Experience Mixed Movements
Live Cattle Futures Show Slight Decline
Live cattle futures wrapped up the Tuesday session with contracts fluctuating between a decline of a dime and an increase of 40 cents. In cash markets last week, trade settled between $186 and $188, with the majority centered around $187. Activity this week has been relatively subdued, as feedyards are currently gathering their showlists.
Feeder Cattle Prices Surge
Feeder cattle prices moved upward this week, with contracts increasing by 87 cents to $2.62. The CME Feeder Cattle Index rose by 99 cents to $255.71 on November 25. The weekly feeder cattle auction held in Oklahoma City reported 6,345 head sold on Monday—slightly lower than last week but above the same week last year. Prices for feeders increased by $4 to $10, while calves experienced jumps of $10 to $15, with some even reaching $20 higher. Demand was assessed as good to very good.
October Beef Stock Data Reveals Historical Low
According to cold storage data released Monday afternoon, beef stocks at the end of October stood at 431.88 million pounds, marking a 10-year low for that month. This figure represents a seasonal increase of 4.71% from September.
Wholesale Boxed Beef Prices Rise
The USDA’s afternoon report on wholesale boxed beef prices indicated an upward trend. Choice boxes saw an increase of $1.86, now priced at $311.57 per hundredweight, while Select boxes rose by $1.75 to $275.49. The spread between Choice and Select widened to $36.08. The USDA estimated that Tuesday’s federally inspected cattle slaughter totaled 126,000 head, bringing the weekly total to 246,000 head. This figure is an increase of 2,000 head from the previous week, but down by 4,556 head compared to the same week last year.
Current Live Cattle and Feeder Cattle Prices
Dec 24 Live Cattle closed at $186.90, up by $0.40.
Feb 25 Live Cattle stood at $187.70, unchanged.
Apr 25 Live Cattle ended at $189.55, down by $0.10.
Jan 25 Feeder Cattle finished at $258.10, up by $2.625.
Mar 25 Feeder Cattle closed at $256.475, gaining $2.150.
Apr 25 Feeder Cattle concluded at $257.50, up by $1.975.
On the date of publication, Austin Schroeder did not hold positions in any of the securities mentioned in this article. All information is provided solely for informational purposes. For more details, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein do not necessarily reflect those of Nasdaq, Inc.
