Cattle Futures Show Mixed Results Amidst Fluctuating Cash Trade
The cattle futures market experienced a varied close, with most contracts declining by 5 to 140 cents, although February futures gained 45 cents. This week, cash trade prices were reported between $196 and $197 in the Southern states, and at $200 in the North. Additionally, during the Fed Cattle Exchange at Central Stockyards, 434 out of 868 head sold for $197.
Feeder cattle futures saw a drop of $1.65 to $2.925 last Friday, while the CME Feeder Cattle Index recorded a slight increase of $3.99, settling at $265.76 on January 1. This follows an upward trend in feeder cattle pricing, which can often ripple through the market.
For exports, beef sales reached 1,412 metric tons (MT) for 2024 during the last full week of the year, along with a significant 11,140 MT destined for shipments in 2025. South Korea emerged as the leading buyer with 3,600 MT, while China purchased a total of 2,200 MT. However, the week ending on December 26 saw export volumes totaling just 12,204 MT, marking a 16-week low. Japan also received 3,400 MT, matching this quantity to South Korea.
On the wholesale front, USDA reported higher boxed beef prices on Friday afternoon. Choice boxed beef prices increased by $1.76, reaching $325.24 per hundredweight (cwt), while Select boxes rose by $2.49 to settle at $296.72. Furthermore, USDA estimated a federally inspected cattle slaughter figure of 498,000 head for the week. This figure reflects a rise of 54,000 head compared to last week, but shows a decrease of 44,462 head compared to the same week last year.
Feb 25 Live Cattle closed at $194.050, up $0.450.
Apr 25 Live Cattle closed at $196.000, down $0.050.
Jun 25 Live Cattle closed at $190.675, down $0.675.
Jan 25 Feeder Cattle closed at $264.825, down $1.650.
Mar 25 Feeder Cattle closed at $264.175, down $2.025.
Apr 25 Feeder Cattle closed at $264.400, down $2.125.
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more details, please view the Barchart Disclosure Policy here.
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