Live Cattle Futures Show Mixed Results in Holiday Trading
As the Christmas Eve trading session wrapped up, live cattle futures varied, with contracts falling by 45 cents to gaining as much as 30 cents. Cash trading has yet to commence this week, with reported bids of $190 in the South. Last week, trading was stable, recorded at $195-195.50 in the North and $191 in the South. Meanwhile, feeder cattle futures took a downturn on Tuesday, with contracts dropping 47 cents to $1. The CME Feeder Cattle Index also reflected this decline, decreasing by 4 cents from the previous day, settling at $262.96 on December 23.
Beef Stocks Hint at Tight Supply
Beef inventory was logged at 440.5 million pounds at the end of November, marking a 3.69% decline from last year and a 1.8% increase compared to October due to seasonal changes. This is the lowest beef stock for November since 2014, signaling tighter supply conditions.
Temporary Wholesale Reports During Holidays
The USDA’s wholesale Boxed Beef report will not be published on Tuesday or Wednesday due to the Christmas holiday. However, the Monday afternoon report showed rising prices: Choice boxes increased by 13 cents, settling at $315.98 per hundredweight (cwt), while Select boxes rose by 84 cents to $286.75.
Live Cattle and Feeder Cattle Prices
Here are the latest closing prices as of December 24:
Dec 24 Live Cattle closed at $190.800, down $0.175,
Feb 25 Live Cattle closed at $187.375, down $0.075,
Apr 25 Live Cattle closed at $189.550, down $0.150,
Jan 25 Feeder Cattle closed at $255.850, down $0.750,
Mar 25 Feeder Cattle closed at $255.000, down $1.000,
Apr 25 Feeder Cattle closed at $255.850, down $0.925.
On the date of publication, Austin Schroeder did not hold any positions in the securities mentioned in this article. All information and data in this article are provided 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.
