Live Cattle Futures Show Mixed Results Amid Market Fluctuations
Live cattle futures saw a range of price movements on Friday, with front months gaining between 22 cents and $1.52 while deferred contracts slipped 17 to 25 cents lower. The February contract notably rose by $5.85 for the week, driven by a robust cash market.
Cash Prices and Trade Activity
This week, cash trade ranged between $191 and $192 in the South and reached as high as $195 to $196 in the North. Notably, December live cattle saw no deliveries issued on Friday. On the feeder cattle side, prices fell by 60 to 90 cents, although January contracts increased by $1.82 since last Friday. The CME Feeder Cattle Index rose by $1.61 from the previous day, closing at $262.59 on December 12.
Commitment of Traders Report Insights
The latest CFTC Commitment of Traders report revealed an uptick in managed money’s net long position, which increased by 3,908 contracts, bringing the total to 126,308 contracts as of December 10. For feeder cattle, this group added 1,012 contracts, reaching a net long position of 19,866 contracts by Tuesday.
Wholesale Beef Prices and Slaughter Data
According to the USDA’s Friday afternoon report, wholesale Boxed Beef prices experienced an increase, with Choice boxes rising by $1.15 to $316.39 per hundredweight (cwt) and Select boxes moving up by $3.38 to $283.86. The USDA estimated this week’s federally inspected cattle slaughter at 609,000 head, which is 5,000 head lower than the previous week and down 38,172 from the same week last year.
Current Live and Feeder Cattle Prices
Dec 24 Live Cattle closed at $193.650, up $1.525;
Feb 25 Live Cattle closed at $192.025, up $1.175;
Apr 25 Live Cattle closed at $193.000, up $0.825;
Jan 25 Feeder Cattle closed at $257.650, down $0.700;
Mar 25 Feeder Cattle closed at $257.675, down $0.900;
Apr 25 Feeder Cattle closed at $258.525, down $0.700;
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 information, please view the Barchart Disclosure Policy
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
