Live Cattle Futures Rise While Feeder Cattle Show Mixed Results

Live cattle futures saw a rebound heading into the weekend, with contracts gaining between 90 cents and $1.30. In contrast, the June contract experienced a decline of $2.45 this week. Cash cattle prices began trading on Thursday, showing Southern sales at $218-220, which remained steady, while Northern sales reached $229. Feeder cattle futures recorded increases of 65 cents to $1.80 on Friday. The May feeder contract, however, dropped $1.125 over the week. According to the CME Feeder Cattle Index, the average price was down $1.38 on May 15, resting at $300.79.

In the latest weekly CFTC report released Friday afternoon, speculative funds increased their net long position in live cattle futures and options by a total of 2,257 contracts, bringing their total to 135,594 contracts as of May 13th. In feeder cattle futures, managed money added 2,773 contracts to their net long position, approaching their previous record at 32,215 contracts.

USDA’s National Wholesale Boxed Beef report, also released on Friday, indicated a rise in prices. The Chc/Sel spread tightened to $10.10, with Choice boxed beef prices increasing by $2.59 to $352.49 and Select boxes rising by $3.21 to $342.39 per hundred pounds. The USDA estimated cattle slaughter for the week at 566,000 head, which is a 7,000 head increase from the previous week, though it’s down by 30,918 head compared to the same week last year.

Live Cattle Futures Close

Jun 25 Live Cattle closed at $212.225, up $1.050.

Aug 25 Live Cattle closed at $206.750, up $0.900.

Oct 25 Live Cattle closed at $203.975, up $1.300.

Feeder Cattle Futures Close

May 25 Feeder Cattle closed at $296.850, up $0.675.

Aug 25 Feeder Cattle closed at $297.600, up $1.775.

Sep 25 Feeder Cattle closed at $296.275, up $1.650.

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.

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