Live Cattle Futures Rise Amid Limited Cash Trade
Live cattle futures ended Wednesday’s trading session with small gains, while cash trade showed signs of activity but remained limited. Reports indicate that trade in Kansas hit $201 today, marking an initial move for the week. An online auction conducted by the Central Stockyards Fed Cattle Exchange showed one lot of 858 head sold at $202.50 through the BidTheGrid™ method, while other bids were noted at $200. Additionally, feeder cattle futures increased between $1.12 and $1.60. However, the CME Feeder Cattle Index dropped 27 cents to $278.04 on January 14.
Boxed Beef Prices Show Mixed Results
The USDA reported a mixed update on wholesale Boxed Beef prices in the afternoon, with the Choice/Select spread widening to $16.10. Choice cuts rose by $1.16, settling at $334.14 per hundredweight (cwt), while Select cuts fell by 67 cents to $318.04. The estimated cattle slaughter for Wednesday stood at 124,000 head, which brings the total for the week to 366,000 head. This figure is up by 9,000 head compared to last week and shows an increase of 32,738 head year-over-year.
Closing Prices for Cattle Futures
Here are the closing prices for various live and feeder cattle futures:
- Feb 25 Live Cattle: closed at $198.525, up $1.125
- Apr 25 Live Cattle: closed at $199.325, up $1.175
- Jun 25 Live Cattle: closed at $193.450, up $1.250
- Jan 25 Feeder Cattle: closed at $275.225, up $1.125
- Mar 25 Feeder Cattle: closed at $269.800, up $1.600
- Apr 25 Feeder Cattle: closed at $270.125, up $1.575
On the date of publication, Austin Schroeder did not have positions in any of 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 the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
