Home Most Popular Market Recap: Livestock Sector Sees Mixed Fortunes as Cattle Values Stall

Market Recap: Livestock Sector Sees Mixed Fortunes as Cattle Values Stall


Market Performance

The final trading day of the month saw the live cattle market experiencing losses ranging from 60 to 95 cents. Despite this decline, April managed to close the month with a net gain of $4.65. On the flip side, feeder cattle faced significant drops on the last trading day. April, however, held firm with a monthly increase of $7.57. February cattle finished flat at $184. The USDA reported cash sales between $181 and $184, with a concentration of activity around $183. Additionally, the CME Feeder Cattle Index weakened by 54 cents on 2/28, closing at $246.26.

Trade Data Insights

According to export sales data from the week of 2/22, beef sales totaled 12.2k metric tons. While this marked a 3% decrease from the previous week, it stood at a robust 26% increase compared to the 4-week average. Japan emerged as the leading buyer for the week, with total shipments reaching 15.9k metric tons. Yearly shipments amounted to 117.4k metric tons, showing an 8% uptick year over year.

Boxed Beef Prices and Slaughter Rates

USDA’s Boxed Beef prices displayed strength on Thursday afternoon, with Choice beef rising by $1.17 and Select by $1.24. Meanwhile, the cattle slaughter figures for the week through Thursday reached 495k head, surpassing last week’s 472k head but falling short of the 499.5k head recorded during the same week last year.

Apr 24 Cattle closed at $185.350, down $0.775,

Jun 24 Cattle closed at $181.225, down $0.950,

Aug 24 Cattle closed at $180.700, down $0.600,

Mar 24 Feeder Cattle closed at $249.000, down $0.600

Apr 24 Feeder Cattle closed at $253.725, down $1.375

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.