Live Cattle Futures Dip After Strong Week
Live cattle futures are experiencing slight declines on Friday, following a week of gains. Currently, contracts are down between 30 to 60 cents. In Friday morning’s Central Stockyards Fed Cattle Exchange online auction, 733 out of 2,636 listed head sold at prices ranging from $187-188. This week, northern sales have also reported prices between $187-188, with some transactions rising by $1 compared to last week. Meanwhile, sales in the southern regions reached $186-187 on Thursday, showing stability with a $1 increase for the week.
Feeder Cattle Show Mixed Results
Feeder cattle futures reflect a mixed sentiment this Friday, with front months down between a nickel and 40 cents. The CME Feeder Cattle Index recorded an increase of 4 cents, settling at $249.52 on October 9.
Boxed Beef Prices on the Rise
In the USDA’s Friday morning report, wholesale Boxed Beef prices increased. Choice boxes rose by $1.10 to $310.05 per cwt, while Select boxes saw a price hike of 98 cents, reaching $291.71. Consequently, the Chc/Select spread expanded to $19.34. Additionally, the USDA estimated that Thursday’s federally inspected cattle slaughter totaled 115,000 head, bringing the week’s total to 474,000 head. This figure shows a decline of 17,000 head from the previous week and is down by 24,512 head compared to the same week last year.
Current Prices in Live and Feeder Cattle
Oct 24 Live Cattle are priced at $188.875, down $0.300.
Dec 24 Live Cattle are priced at $187.800, down $0.475.
Feb 25 Live Cattle are priced at $188.300, down $0.575.
Oct 24 Feeder Cattle are priced at $249.875, down $0.400.
Nov 24 Feeder Cattle are priced at $249.900, down $0.050.
Jan 25 Feeder Cattle are priced at $247.225, up $0.025.
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 the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
