Live Cattle Futures Rally Continues into New Week

Live cattle futures have gained another 52 to 62 cents so far on Monday, building on last week’s momentum. In cash trading from last week, prices ranged from $200 to $201 in the South, while the North saw live sales hitting $202, with some reaching up to $205. Additionally, feeder cattle futures increased by 10 to 40 cents across most contracts. Notably, January continues its upward trend with an increase of $3.17, bringing the CME Feeder Cattle Index to $278.55 after a $3.55 rise from the previous day on January 9. The Weekly OKC feeder cattle auction reported 7,500 head listed, which is consistent with last week but significantly lower than this time last year. Early reports indicate higher prices.

The USDA reported mixed results in the wholesale Boxed Beef prices in the Monday morning update. The Choice/Select spread narrowed to $15.22, with Choice boxes declining by 52 cents to $332.32 per cwt. In contrast, Select boxes climbed by $2.69, reaching $317.10. The USDA also estimated that federally inspected cattle slaughter for the previous week was 589,000 head, which is 83,000 more than the week before and an increase of 54,098 head compared to the same week last year.

Feb 25 Live Cattle are priced at $198.125, an increase of $0.525.

Apr 25 Live Cattle are priced at $198.900, up $0.625.

Jun 25 Live Cattle stand at $193.250, increasing by $0.525.

Jan 25 Feeder Cattle now at $272.400, up $3.175.

Mar 25 Feeder Cattle are priced at $268.675, a rise of $0.375.

Apr 25 Feeder Cattle have reached $269.250, up $0.175.

On the date of publication, Austin Schroeder did not hold any positions in the mentioned securities. All information in this article is provided for informational purposes only. Please refer to the Barchart Disclosure Policy for more details.
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