Live Cattle Futures Show Mixed Performance Amid Light Cash Trade

Live cattle futures wrapped up Tuesday’s session with varied results. Contracts fluctuated, ranging from 22 cents higher to 7 cents lower among the nearby months. Cash trade remains subdued this week, with light sales reported on Monday, specifically $219 in Kansas. In contrast, last week saw Southern sales averaging $218-220 and Northern sales hitting $229. On the other hand, feeder cattle futures were stable to up by 35 cents in the front months but showed some weakness in fall contracts. The CME Feeder Cattle Index also fell by $1.53 on May 19, averaging $297.33.

In USDA’s Tuesday afternoon National Wholesale Boxed Beef report, prices increased, with the Choice/Select spread widening to $13.79. Choice boxes rose by $3.94 to $358.75, while Select boxes were quoted 85 cents higher at $344.96 per hundred pounds. Additionally, USDA’s estimate for Tuesday’s federally inspected cattle slaughter reached 120,000 head, contributing to a weekly total of 235,000. This marks an increase of 15,000 from the previous week, although it is down by 807 head compared to the same week last year.

Recent Closing Prices

Jun 25 Live Cattle closed at $213.175, up $0.200.

Aug 25 Live Cattle closed at $207.850, down $0.075.

Oct 25 Live Cattle closed at $205.300, up $0.225.

May 25 Feeder Cattle closed at $296.000, up $0.325.

Aug 25 Feeder Cattle closed at $297.500, up $0.025.

Sep 25 Feeder Cattle closed at $296.200, down $0.125.

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 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.