HomeMost PopularThe Bullish Winds of CoF Data: Live Cattle Closes Mixed

The Bullish Winds of CoF Data: Live Cattle Closes Mixed

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A Steady Foundation: Cattle Market Dynamics

Live cattle wrapped up the Friday trading session with most contracts holding steady or making modest gains, showcasing resilience in the face of market fluctuations.

In the midst of this dance, cash action in the market gained momentum, with varying reports from different regions reflecting the dynamic nature of cattle pricing. Southern trades held steady, while North saw a slight downturn from the previous week.

Meanwhile, feeders experienced a dip in the lead-up to the weekend, with contracts showing a range of decreases. The CME Feeder Cattle index itself took a slight tumble on April 18.

CoF Report: A Closer Look

USDA’s Cattle on Feed report provided insights into the market’s pulse, revealing a decrease in placements and marketings compared to the previous year. While March numbers were notably lower, April 1 on-feed inventory saw a moderate increase, albeit slightly below expectations.

Futures Speculation and Boxed Beef Prices

Speculation in live cattle futures and options markets showed a reduction in net long positions, indicating a cautious approach from traders in response to market dynamics.

USDA’s Wholesale Boxed Beef prices displayed a mixed picture, with choice boxes easing slightly while select boxes saw an uptick, affecting the overall Chc/Sel spread.

Market Numbers: Closing Bell

As the trading day came to a close, live cattle futures for April, June, and August displayed marginal gains. In contrast, Feeder Cattle futures saw minor declines across various contracts.

On the date of publication, Alan Brugler held no positions in the securities mentioned. The information provided here is purely for informational purposes.

The views expressed in this article are solely those of the author and may not align with the official stance of Nasdaq, Inc.

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