Cattle Futures Take a Downturn Amid Decreased Trading Activity

Market Updates: Live and Feeder Cattle Trends

Live cattle futures experienced a decline on Thursday, with losses ranging from 75 cents to $1.07. The cash market began trading at $185 nationwide, which reflects a drop of $1 compared to the previous week. In feeder cattle futures, prices dipped by 45 to 97 cents. However, the nearby November contract increased by $1.15, buoyed by index activity as it approaches its expiration. The CME Feeder Cattle Index rose by $2.02, reaching $251.04 on November 13.

Wholesale Beef Prices and Slaughter Data

The USDA reported that wholesale boxed beef prices decreased again in their Thursday afternoon update. Choice boxes fell by $3.14 to $303.80 per hundredweight (cwt), while Select boxes dropped by $2.00, totaling $276.66. This adjustment narrowed the Choice/Select spread to $27.14. Additionally, the USDA’s estimated federally inspected cattle slaughter for Thursday was 125,000 head, contributing to a weekly total of 483,000 head. This number is 11,000 head lower than last week and shows a decline of 15,488 head compared to the same week last year.

Price Summary for Live and Feeder Cattle

Dec 24 Live Cattle closed at $182.950, down $1.075.

Feb 25 Live Cattle closed at $185.100, down $0.975.

Apr 25 Live Cattle closed at $186.925, down $0.750.

Nov 24 Feeder Cattle closed at $247.625, up $1.150.

Jan 25 Feeder Cattle closed at $243.200, down $0.450.

Mar 25 Feeder Cattle closed at $241.725, down $0.475.

On the date of publication, Austin Schroeder did not hold (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 details, 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.