Live Cattle Futures Decline Amid Mixed Market Signals

Live cattle futures experienced a notable decrease on Monday, settling down by 60 cents to $1.20. Cash market activity primarily involved compiling showlists. Last week’s cash prices remained consistent, reaching $209-210 in the South and $213-214 in the North. Dressed trade prices were reported between $335 and $345 in the Northern regions.

Feeder Cattle Market Update

Feeder cattle futures closed on a steady note, with prices dropping by up to 67 cents. The CME Feeder Cattle Index saw a rise of $4.74 as of March 28, averaging $291.50. The upcoming weekly feeder cattle auction at OKC is expected to feature approximately 5,000 head for sale, outpacing last year’s figures but falling short of last week’s volume. Reports indicate sales were steady to $5 lower for steers, while heifers were generally firm to $5 higher.

Boxed Beef Prices and Cattle Slaughter

The National Wholesale Boxed Beef report released by USDA Monday afternoon indicated an increase, as the Choice/Select spread widened to $15.25. Specifically, Choice boxed beef rose by $2.44 to $335.26 per hundredweight, while Select gained $1.33 to reach $320.01. The USDA estimated Monday’s federally inspected cattle slaughter at 104,000 head, a decrease of 15,000 head from the previous Monday and down 4,286 head from the same week last year.

Futures Prices Overview

Closing prices for Live Cattle on April 25 showed:

• Apr 25 Live Cattle: Closed at $207.800, down $1.025
• Jun 25 Live Cattle: Closed at $203.650, down $1.200
• Aug 25 Live Cattle: Closed at $200.025, down $0.975

Meanwhile, feeder cattle futures on April 25 closed as follows:

• Apr 25 Feeder Cattle: Closed at $286.450, down $0.475
• May 25 Feeder Cattle: Closed at $284.500, down $0.675
• Aug 25 Feeder Cattle: Closed at $289.500, down $0.175

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 provided herein are solely for informational purposes. For further details, please view the Barchart Disclosure Policy.

The views and opinions expressed in this article are those of the author and do not necessarily reflect those of Nasdaq, Inc.