Cattle Futures Experience Mixed Results Amid Market Fluctuations

On Wednesday, live cattle futures ended with mixed results. Near-month contracts fell between 2 to 37 cents, while deferred futures rose by 7 to 22 cents. This morning’s Fed Cattle Exchange auction reported no sales for the 2,510 head available, with bids ranging from $184 to $188. Outside of the auction, bids have been around $185. Meanwhile, feeder cattle futures showed a varied performance—November contracts slipped 35 cents, whereas other months gained between 7 to 90 cents. The CME Feeder Cattle Index dropped 62 cents to $249.02 as of November 12.

In the USDA’s afternoon report, wholesale Boxed Beef prices saw a decline. Choice boxes decreased by $1.33 to $306.94 per cwt, while Select boxes fell $1.26 to $278.66. The Chc/Sel spread now stands at $28.28. The USDA estimated the federally inspected cattle slaughter on Wednesday at 125,000 head, leading to a total of 358,000 for the week—a drop of 11,000 head from the previous week and down 18,418 head compared to the same week last year.

Dec 24 Live Cattle closed at $184.025, down $0.375.

Feb 25 Live Cattle settled at $186.075, down $0.050.

Apr 25 Live Cattle finished at $187.675, down $0.025.

Nov 24 Feeder Cattle closed at $246.475, down $0.350.

Jan 25 Feeder Cattle ended at $243.650, up $0.075.

Mar 25 Feeder Cattle closed at $242.200, up $0.475.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) any positions in the securities mentioned in this article. All information and data are provided solely for informational purposes. For more details, please view the Barchart Disclosure Policy here.

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