Live Cattle Futures Decline Amid Mixed Market Trends

Live cattle futures experienced losses ranging from $1.50 to $2.50 on Friday. The February futures are set to expire today, with no deliveries reported thus far. In terms of cash sales, prices were noted at $197 in the South, while lighter trading was observed at $198 in the North. During the Central Stockyards Fed Cattle Exchange online auction on Friday morning, 152 out of 1,826 head offered were sold at $198. Meanwhile, feeder cattle are displaying mixed results; March contracts rose by 55 cents while other contracts weakened at midday. The CME Feeder Cattle Index also increased by 91 cents on February 26, placing the average price at $279.64.

Wholesale Beef Market Overview

The latest National Wholesale Boxed Beef report from USDA, released on Friday morning, indicated mixed price trends. The Choice/Select spread climbed back to $9.76, with Choice boxes increasing by 64 cents to reach $311.82 per hundredweight (cwt), whereas Select boxes decreased by 7 cents, settling at $302.06. Additionally, the USDA estimated the Thursday federally inspected cattle slaughter at 118,000 head, bringing the weekly total to 457,000. This figure is 10,000 head above the previous week but still down by 33,155 head compared to the same week last year.

Current Market Prices

Feb 25 Live Cattle: $197.725, down $1.675

Apr 25 Live Cattle: $193.625, down $2.500

Jun 25 Live Cattle: $189.925, down $2.400

Mar 25 Feeder Cattle: $277.000, up $0.550

Apr 25 Feeder Cattle: $275.175, down $0.375

May 25 Feeder Cattle: $273.100, down $0.875

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 are solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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