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Cattle Closed Mostly Higher on Wednesday

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Cattle Futures Experience Mixed Results

Cattle Futures Overview

The cattle futures showed a mixed performance on Wednesday, with nearby live cattle futures edging up by 27 to 35 cents across the front months. However, Feb fats and March feeders closed in the red, contributing to a day of divergence in the market. Meanwhile, the other nearby feeders saw gains of as much as $1.

Market Indicators

As of February 20, the CME Feeder Cattle Index stood at $90.42, indicating an increase of $1.15. However, no cash trades were solidified for the week through Wednesday, leaving some uncertainty lingering in the marketplace.

The USDA’s Boxed Beef prices painted a mixed picture, with Select prices dropping by $3.36 to $284.46, while Choice beef experienced an increase of 43 cents on Wednesday afternoon. The market prices further indicated fluctuation as Choice prices surged by 84 cents amid a $2.50 drop in Select prices.

Furthermore, federally inspected cattle slaughter totaled 349k head for the week through Wednesday, down from 363k head the previous week and 353k head during the same week last year.

Specific Futures Performance

The Feb 24 Cattle closed at $183.975, marking a decrease of $0.425, while Apr 24 Cattle ended the session at $187.700, up $0.375. Jun 24 Cattle also experienced gains, closing at $183.300, up $0.350. March 24 Feeder Cattle, in contrast, closed at $251.350, down $0.025, whereas Apr 24 Feeder Cattle closed at $255.925, up $0.575.

On the date of publication, Alan Brugler 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.

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


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