Live Cattle Futures Rise While Feeder Cattle Struggle with Losses
Live cattle futures are showing solid gains, with increases ranging from 37 to 87 cents. In cash markets, trade in the South has been reported at $191-192, while the North has seen prices rise to $195-196. Notably, there have been no deliveries against December live cattle as of Wednesday.
Feeder Cattle Face Declines Amid Market Shifts
Conversely, feeder cattle are experiencing losses between $1.07 and $1.35 at midday. The CME Feeder Cattle Index noted an increase of $1.61 from the previous day, now sitting at $263.07 for December 11.
Boxed Beef Prices on the Rise
In the USDA’s Friday morning report, wholesale Boxed Beef prices showed an upward trend. Choice boxes increased by 66 cents to reach $315.90 per hundredweight, while Select boxes rose by $2.37 to hit $283.85. Furthermore, USDA estimates indicate that Thursday’s federally inspected cattle slaughter was at 125,000 head, bringing the weekly total to 489,000 head. This figure is 4,000 head above last week but down by 14,183 head in comparison to the same week last year.
Current Live and Feeder Cattle Prices
Dec 24 Live Cattle: $193.000, up $0.875
Feb 25 Live Cattle: $191.600, up $0.750
Apr 25 Live Cattle: $192.550, up $0.375
Jan 25 Feeder Cattle: $257.275, down $1.075
Mar 25 Feeder Cattle: $257.225, down $1.350
Apr 25 Feeder Cattle: $258.025, down $1.200
On the date of publication, Austin Schroeder did not hold positions in any securities mentioned in this article. All information and data in this article are 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.
