Friday Update: Live Cattle Futures Show Positive Movement
Live cattle futures are experiencing midday gains ranging from 85 cents to $1.20 this Friday. A few cattle have sold this week in the North at prices between $195 and $195.50, which is consistent with last week’s rates. In the South, bids have been around $191 thus far. There were no sales reported on Friday’s Central Stockyard Fed Cattle Exchange, with bids fluctuating between $188 and $191. Feeder cattle futures also saw an increase, rising by 60 to 90 cents during the session. The CME Feeder Cattle Index fell by 77 cents from the previous day, currently at $262.23 as of December 18.
This afternoon, the USDA is set to release its monthly Cattle on Feed report. Analysts predict a 5.1% decrease in November placements from last year, along with marketing expected to be 1.8% lower than a year ago. The December 1 on-feed inventory is anticipated to be down 0.3% in comparison to 2023, reflecting ongoing trends in cattle management.
In Friday morning’s report, USDA wholesale Boxed Beef prices declined. Choice boxes dropped $4.42, now priced at $316.27 per hundredweight, while Select boxes dipped 55 cents to $283.56. The USDA estimated that Thursday’s federally inspected cattle slaughter reached 121,000 head, raising the week-to-date total to 485,000 head. This figure marks a decrease of 4,000 head from the previous week and 10,201 head compared to the same week last year.
Dec 24 Live Cattle are at $191.250, reflecting an increase of $0.900.
Feb 25 Live Cattle are at $187.750, marking a rise of $1.200.
Apr 25 Live Cattle are at $189.450, up $0.850.
Jan 25 Feeder Cattle are at $255.075, an increase of $0.600.
Mar 25 Feeder Cattle are at $255.475, rising by $0.900.
Apr 25 Feeder Cattle are at $256.425, up $0.975.
At the time of publication, Austin Schroeder did not hold any positions in the securities mentioned in this article. Information and data provided are for informational purposes only. For further details, please view the Barchart Disclosure Policy
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