Live Cattle Futures Rise as Feeder Cattle Show Gains
On Tuesday, live cattle futures increased by 50 cents to $1 in the near term months. The cash markets mainly focused on compiling showlists, with last week’s trading limited. In the north, some cattle sold for $208, while transactions in the south were reported at $204.
Feeder Cattle Futures Show Steady Midday Gains
Feeder cattle futures are experiencing midday increases ranging from $1.35 to $2.07. The CME Feeder Cattle Index rose by $1.03 on April 11, bringing the average price to $287.16. During the recent OKC feeder cattle auction, 3,693 head were sold. Notably, feeder steers above 800 lbs and steer calves saw price increases of $4 to $10, while those below 800 lbs were up by $20 to $25. Heifer prices as well saw gains, rising by $10 to $20, with heifer calves up $20 to $30.
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Mixed Trends in Wholesale Boxed Beef Prices
On Tuesday morning, the USDA reported mixed trends in National Wholesale Boxed Beef prices. The Chc/Sel spread narrowed to $18.62. Specifically, choice boxes decreased by 94 cents to $334.69 per hundredweight, whereas select boxes rose by 22 cents to reach $316.07. The estimated cattle slaughter for Monday stood at 112,000 head, up by 8,000 head from the prior Monday, but down 7,791 head compared to the same week last year.
Current Live and Feeder Cattle Prices
Apr 25 Live Cattle are trading at $204.625, up $0.675.
Jun 25 Live Cattle are priced at $199.575, rising by $0.500.
Aug 25 Live Cattle are at $196.800, reflecting an increase of $0.975.
Apr 25 Feeder Cattle are currently at $289.425, up $1.375.
May 25 Feeder Cattle are priced at $282.500, an increase of $1.550.
Aug 25 Feeder Cattle are trading at $288.225, up $2.075.
On the date of publication, Austin Schroeder did not hold any positions in the securities mentioned in this article. All provided information is for informational purposes only. For further details, please refer to the Barchart Disclosure Policy.
The views expressed in this article are those of the author and do not necessarily represent those of Nasdaq, Inc.
