Live Cattle Futures Gain Momentum as Feeder Cattle Prices Rise

Wednesday’s Trading Shows Solid Increases and Positive Market Activity

On Wednesday, live cattle futures made strong gains, rising between $1.00 and $1.175. So far, very light cash sales have been reported at $190. This morning’s online auction held by the Fed Cattle Exchange in Central Stockyards revealed that half of the 1,300 head listed sold for prices between $189 and $189.50.

Feeder cattle also continued their upward trend, increasing by 90 cents to $1.175. The CME Feeder Cattle Index registered a rise of 99 cents, reaching $255.71 as of November 25.

According to the USDA’s wholesale Boxed Beef report this morning, prices increased as well. Choice boxed beef went up 49 cents, reaching $312.06 per hundredweight (cwt), while Select beef saw a rise of 29 cents to $275.78. The spread between Choice and Select widened to $36.28. The USDA estimated that Tuesday’s federally inspected cattle slaughter totaled 126,000 head. Counting the week to date, the total stands at 246,000 head, which is 2,000 more than last week, but 4,556 lower than the same week last year.

Dec 24 Live Cattle are priced at $188.050, an increase of $1.150.

Feb 25 Live Cattle are at $188.775, up by $1.075.

Apr 25 Live Cattle stand at $190.725, gaining $1.175.

Jan 25 Feeder Cattle are priced at $259.175, reflecting an increase of $1.075.

Mar 25 Feeder Cattle are at $257.650, up $1.175.

Apr 25 Feeder Cattle are trading at $258.400, gaining $0.900.

On the date of publication, Austin Schroeder did not hold any positions in the securities mentioned in this article, either directly or indirectly. All information and data in this article are provided solely for informational purposes. For further details, please refer to the Barchart Disclosure Policy here.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.