Live Cattle Futures Remain Mixed as Slaughter Numbers Rise
Live cattle futures showed varied movements in Thursday’s trading session, with contracts ranging from 50 cents lower to 22 cents higher. Retendering took place for six deliveries against the October contracts from Wednesday. In the Thursday morning Central Stockyards online Fed Cattle Exchange auction, there were no sales recorded for the 2,720 head on offer, as bids were between $183 and $185. In regional sales, cattle sold for $188 in the South and $296 in the North.
Feeder Cattle and Boxed Beef Prices on the Rise
Feeder cattle futures displayed gains of 25 to 62 cents in the near month contracts, while deferred contracts experienced declines of 22 to 60 cents. The CME Feeder Cattle Index rose by 78 cents, bringing it to $250.25 as of October 16.
Boxed Beef Prices Show Positive Trends
The USDA reported an increase in wholesale Boxed Beef prices in their Thursday afternoon update. Choice boxes rose 13 cents to $319.26 per hundredweight, while Select boxes gained $1.15, reaching $293.52. The difference between Choice and Select narrowed to $25.74. The USDA estimated Thursday’s federally inspected cattle slaughter at 118,000 head, resulting in a weekly total of 488,000 head. This figure is up by 14,000 head from last week, but down by 13,670 head compared to the same week last year.
Latest Live and Feeder Cattle Market Data
Oct 24 Live Cattle closed at $186.625, down $0.425,
Dec 24 Live Cattle closed at $186.175, down $0.425,
Feb 25 Live Cattle closed at $186.975, unchanged,
Oct 24 Feeder Cattle closed at $246.725, up $0.625,
Nov 24 Feeder Cattle closed at $245.750, up $0.250,
Jan 25 Feeder Cattle closed at $243.125, down $0.225.
On the date of publication, Austin Schroeder did not hold any positions, either directly or indirectly, in the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
