Cattle Market Update: Prices Rise Amid Shifting Trends
Live cattle futures show solid gains, while cash trade opens with competitive sales.
Live cattle futures experienced gains between 87 cents and $1.10 on Wednesday. The cash trade began with sales reported nationwide in the range of $188 to $190. The Fed Cattle Exchange’s online auction, which took place Wednesday morning at Central Stockyards, revealed that half of the 1,300 head listed sold for prices between $189 and $189.50.
In feeder cattle markets, prices climbed by 60 to 90 cents across most contracts, buoyed by sustained cash strength. The CME Feeder Cattle Index rose by 23 cents, reaching $255.94 as of November 26.
However, USDA wholesale Boxed Beef prices fell in the Wednesday afternoon update. Choice boxes dipped by 31 cents to $311.26 per hundredweight, while Select declined by $1.19 to $274.30. As a result, the spread between Choice and Select widened to $36.96. In slaughter data, the USDA estimated that 124,000 head of cattle were federally inspected on Wednesday, bringing the weekly total to 370,000 head. This figure reflects a decrease of 1,000 head compared to the previous week and down 6,872 head from the same week last year.
Here are the closing prices for live and feeder cattle on specific dates:
- Dec 24 Live Cattle closed at $188.000, up $1.100
- Feb 25 Live Cattle closed at $188.600, up $0.900
- Apr 25 Live Cattle closed at $190.425, up $0.875
- Jan 25 Feeder Cattle closed at $258.775, up $0.675
- Mar 25 Feeder Cattle closed at $257.300, up $0.825
- Apr 25 Feeder Cattle closed at $258.400, up $0.900
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 is solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
