Cattle Futures Rise as Cash Market Slowly Picks Up

Live cattle futures closed higher on Wednesday, showing an increase of $1 to $1.25 in nearby contracts. Cash trading has begun this week, albeit with minimal activity, with prices reported at $201 in Kansas. The Central Stockyards Fed Cattle Exchange held an online auction on Wednesday, where one lot out of 858 head sold for $202.50 using the BidTheGrid™ method, while other bids were noted at $200. Feeder cattle futures also gained, with increases ranging from $1.12 to $1.60. The CME Feeder Cattle Index declined by 27 cents from the previous day, settling at $278.04 on January 14.

In the USDA’s Wednesday PM report, wholesale Boxed Beef prices showed mixed results. The Choice/Select spread increased to $16.10. Choice boxes went up by $1.16, reaching $334.14 per hundredweight (cwt), whereas Select boxes decreased by 67 cents to $318.04. The USDA estimated that federally inspected cattle slaughter on Wednesday totaled 124,000 head, raising the weekly total to 366,000 head. This figure is up by 9,000 head compared to last week and 32,738 head more than the same week last year.

Feb 25 Live Cattle closed at $198.525, up $1.125.

Apr 25 Live Cattle closed at $199.325, up $1.175.

Jun 25 Live Cattle closed at $193.450, up $1.250.

Jan 25 Feeder Cattle closed at $275.225, up $1.125.

Mar 25 Feeder Cattle closed at $269.800, up $1.600.

Apr 25 Feeder Cattle closed at $270.125, up $1.575.

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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