Market Gains in Live Cattle Futures Amid Slow Cash Trade

Live cattle futures saw encouraging gains on Thursday, rising between $2.25 and $3.90, with February contracts leading the way. Cash trade has been sluggish this week; a few light sales were reported at $200 in the South and some dressed sales in the North at $320, compared to $315 last week. The Central Stockyards Fed Cattle Exchange online auction on Thursday morning recorded sales for 135 out of 1,108 head offered, with prices reaching $198 using the BidTheGrid™ method. Meanwhile, feeder cattle futures increased by $2.925 to $3.65 for the day. The CME Feeder Cattle Index also rose by $2.14 to $275.00 on January 8.

The USDA reported higher wholesale Boxed Beef prices in the Thursday afternoon summary, with the Choice/select spread expanding to $22.43. Choice boxes gained $2.17, bringing the price to $330.78 per hundredweight (cwt), while Select boxes were up $1.46, reaching $308.35. On Thursday, the USDA estimated federally inspected cattle slaughter at 122,000 head, making the weekly total 479,000 head. This marks an increase of 55,629 head compared to the same week last year.

Feb 25 Live Cattle closed at $197.600, up $3.900

Apr 25 Live Cattle closed at $198.275, up $2.750

Jun 25 Live Cattle closed at $192.725, up $2.250

Jan 25 Feeder Cattle closed at $269.225, up $3.650

Mar 25 Feeder Cattle closed at $268.300, up $3.325

Apr 25 Feeder Cattle closed at $269.075, up $2.925

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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