Cattle Futures Show Mixed Results Ahead of Christmas
Live cattle futures fluctuated this Tuesday, with contracts down by a nickel to 37 cents higher. Cash trading remains inactive, following last week’s steady trade at $195-$195.50 in the North and $191 in the South. Meanwhile, feeder cattle futures displayed varied outcomes: January futures rose 20 cents, while others dipped by five to 12 cents. The CME Feeder Cattle Index recorded an increase of 85 cents from the previous day, reaching $263.00 on December 20. Notably, markets will close early this afternoon, observing a day off on Wednesday.
Beef Stock Levels at a Low
As of the end of November, beef stocks stood at 440.5 million lbs, marking a 3.69% decline from the previous year and a 1.8% increase compared to October’s numbers, reflecting a seasonal trend. This represents the tightest beef stock levels for November since 2014.
USDA Boxed Beef Report Delayed for Holiday
The USDA will not publish its wholesale Boxed Beef report on Tuesday or Wednesday due to the Christmas holiday. Prices recorded in the Monday afternoon report saw a rise, with Choice boxed beef up 13 cents at $315.98 per hundredweight (cwt), while Select increased by 84 cents to $286.75. The USDA estimated that Monday’s federally inspected cattle slaughter reached 118,000 head, consistent with last Monday’s figures but notably higher than the same Monday last year during Christmas.
Current Live and Feeder Cattle Prices
Dec 24 Live Cattle: $191.125, up $0.150
Feb 25 Live Cattle: $187.825, up $0.375
Apr 25 Live Cattle: $189.900, up $0.200
Jan 25 Feeder Cattle: $256.800, up $0.200
Mar 25 Feeder Cattle: $255.875, down $0.125
Apr 25 Feeder Cattle: $256.725, down $0.050
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.
