Live Cattle Futures Surge: Market Insights from Thursday’s Trading

Key Trading Updates

Live cattle futures saw a significant increase on Thursday, with prices rising between $1.97 and $3.05. However, cash trading has yet to commence, with initial bids reported at $190. The Central Stockyards’ Fed Cattle Exchange online auction listed 1,036 head, but no sales occurred, with bids ranging from $188 to $190. Feeder cattle futures also experienced gains, climbing $3 to $4.50. Meanwhile, the CME Feeder Cattle Index dropped by $2.28 from the previous day, reaching $260.77 on December 25.

Wholesale Beef Prices and Slaughter Figures

The USDA reported an uptick in wholesale Boxed Beef prices in its Thursday afternoon summary. Specifically, Choice boxes rose by $4.41, reaching $320.39 per hundredweight, while Select boxes increased by $2.02 to $288.77. Additionally, the USDA estimated that federally inspected cattle slaughter reached 119,000 head on Thursday, bringing the weekly total to 275,000 head. This figure marks a decrease of 66,506 head compared to the same week last year.

Market Close on December 24

Dec 24 Live Cattle closed at $192.775, up $1.975.

Feb 25 Live Cattle closed at $190.100, up $2.725.

Apr 25 Live Cattle closed at $192.600, up $3.050.

Jan 25 Feeder Cattle closed at $259.300, up $3.450.

Mar 25 Feeder Cattle closed at $259.500, up $4.500.

Apr 25 Feeder Cattle closed at $260.025, up $4.175.

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.