Live Cattle Futures Gain Ground Amid Mixed Market Signals

Cash Trade Sees Modest Increases

Live cattle futures rose by 50 cents to $2 on Thursday. The cash market has been sluggish this week, with prices reaching around $196 in Kansas. This marks a $3-4 increase from last week. In the morning’s Fed Cattle Exchange at Central Stockyards, 136 out of 1,140 head sold at $194 using the BidTheGrid™ method. Meanwhile, feeder cattle futures gained 95 cents to $3.45 on the same day. The CME Feeder Cattle Index increased by 72 cents from the previous day, closing at $261.77 on January 1.

Boxed Beef Prices Trend Downward

The USDA reported lower wholesale Boxed Beef prices in the Thursday afternoon update. Choice boxed beef prices dropped 74 cents to $323.48 per hundredweight, while Select decreased by 29 cents to $294.23. This week, the USDA estimated federal cattle slaughter at 125,000 head, bringing the weekly total to 350,000. Although this is a rise of 75,000 head from last week, it remains down 23,234 head from the same period last year.

Current Futures Market Summary

Feb 25 Live Cattle closed at $193.600, up $2.000.

Apr 25 Live Cattle closed at $196.050, up $1.775.

Jun 25 Live Cattle closed at $191.350, up $1.725.

Jan 25 Feeder Cattle closed at $266.475, up $3.450.

Mar 25 Feeder Cattle closed at $266.200, up $3.225.

Apr 25 Feeder Cattle closed at $266.525, up $2.975.

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
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