Live cattle futures are trading steady to 25 cents lower on Tuesday, with cash trade last week averaging $230. Feeder cattle futures are experiencing an increase of $2 to $3.10. The CME Feeder Cattle Index rose by 60 cents to $347.37. In the OKC feeder cattle auction, 8,258 head were sold, with prices for steers increasing by $4-8 and for heifers steady to up $3. Conversely, calf prices decreased by $5-10 for steers and $10-20 for heifers.
For the week ending November 25, managed money reduced their net long positions by 4,420 contracts to 92,911, the lowest since October 2024. Speculators in feeder cattle futures cut back their net long by 1,382 contracts, totaling 16,048 contracts. Additionally, USDA Wholesale Boxed Beef prices rose, with Choice boxes up 78 cents to $360.24 and Select boxes up $1.73 to $349.03. Monday’s federally inspected cattle slaughter was estimated at 110,000 head, down 5,000 from the previous week and 6,934 from the same week last year.
