Cattle Futures See Gains Ahead of New Year

As December futures contracts come to a close, live cattle futures are seeing increases of $1 to $1.25 in most cases. Cash trade activity is still pending this week, with last week’s transactions noted at $192-193 in the South, marking an increase of $1-2, while the North recorded $196-197, also up by $1-2. Feeder cattle futures are experiencing a midday boost of $1.50 to $2 on this final trading day of 2024. The CME Feeder Cattle Index showed a drop of $4.35, settling at $253.97 on December 27. It’s worth noting that the market will observe a closure on Wednesday for New Year’s Day.

Due to last week’s holiday, the weekly CFTC data was delayed. As of December 24, speculators reduced their net long positions by 5,779 contracts, bringing the total down to 128,569 contracts.

In the USDA’s report on wholesale Boxed Beef prices for Tuesday morning, both Choice and Select boxes saw slight declines, with Choice down by 51 cents to $324.86 per cwt and Select falling 48 cents to $294.28. Additionally, USDA estimated federally inspected cattle slaughter at 123,000 head on Monday, which is a rise of 5,000 head compared to the previous Monday.

Dec 24 Live Cattle are priced at $193.950, down $0.125.

Feb 25 Live Cattle are priced at $191.525, up $1.225.

Apr 25 Live Cattle are priced at $194.200, up $1.175.

Jan 25 Feeder Cattle are priced at $263.175, up $1.550.

Mar 25 Feeder Cattle are priced at $263.000, up $1.950.

Apr 25 Feeder Cattle are priced at $263.275, up $2.000.

On the date of publication, Austin Schroeder did not hold any positions in the securities mentioned in this article. The information and data presented herein are provided solely for informational purposes. For more details, please view the Barchart Disclosure Policy here.

The opinions and views expressed in this article are that of the author and do not necessarily reflect those of Nasdaq, Inc.