Live Cattle Futures Rally as Cash Trade Remains Slow

Live cattle futures rose on Monday, with contracts increasing by $1.07 to $1.80. Cash trade activity is low this week, with last week’s prices ranging from $221 to $223 in the South, and up to $225, while the North saw business at $234 to $237.

Feeder cattle futures also experienced gains on Monday, closing up $2.92 to $3.50. The CME Feeder Cattle Index rose by $1.83 on May 30 to an average price of $301.13. The Oklahoma City feeder cattle auction anticipates about 7,500 head for sale, with steers priced 5 to 12 cents higher and heifers steady to $4 higher.

The USDA’s National Wholesale Boxed Beef prices reported mixed results in the afternoon update, with the Choice/Select spread recorded at $7.89. Choice boxes decreased by 34 cents to $366.00, while Select increased by $1.46 to $358.11 per cwt. USDA’s federally inspected cattle slaughter on Monday was 115,000 head, down 2,863 from the same post-holiday week last year.

Closing Prices

Jun 25 Live Cattle closed at $216.550, up $1.075,

Aug 25 Live Cattle closed at $211.000, up $1.650,

Oct 25 Live Cattle closed at $209.200, up $1.800.

Aug 25 Feeder Cattle closed at $301.750, up $2.925,

Sep 25 Feeder Cattle closed at $300.900, up $3.200,

Oct 25 Feeder Cattle closed at $299.075, up $3.375.

On the date of publication, Austin Schroeder did not have positions in any of the securities mentioned in this article. This information is for informational purposes only. For more details, please view the Barchart Disclosure Policy.

The views expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.