February Live Cattle Futures Gain While Feeder Contract Prices Decline
Live cattle futures are showing a mixed performance today. February contracts are up 80 cents, driven by strong cash prices, while other contracts have dropped between 7 and 80 cents. The cash trade started this week with reports of prices at $196-197 in the South, and sales of up to $200 in the North. This morning’s Fed Cattle Exchange from Central Stockyards indicated that 434 out of 868 head sold for $197. In contrast, feeder cattle futures are experiencing a decline, down $1.15 to $1.25 at midday. Meanwhile, the CME Feeder Cattle Index rose by 72 cents from the previous day, reaching $261.77 as of January 1.
In terms of beef exports, a total of 1,412 metric tons (MT) was reported for 2024 during the last full week of the year, with 11,140 MT designated for shipment in 2025. South Korea emerged as the largest buyer, securing 3,600 MT, followed by China with 2,200 MT. However, exports during the week of December 26 hit a 16-week low at 12,204 MT, with Japan receiving 3,400 MT and South Korea taking another 3,400 MT.
USDA wholesale Boxed Beef prices increased in the latest report released on Friday morning. Choice boxes climbed by $1.46 to $324.94 per cwt, while Select boxes rose by $1.83 to $296.06. The USDA has estimated that federally inspected cattle slaughter totaled 125,000 head on Thursday, bringing the weekly total to 350,000 head. This reflects an increase of 75,000 head from the previous week, but a decrease of 23,234 head compared to the same week last year.
Feb 25 Live Cattle are priced at $194.400, reflecting an increase of $0.800.
Apr 25 Live Cattle are priced at $195.975, showing a slight decline of $0.075.
Jun 25 Live Cattle stood at $190.500, down $0.850.
Jan 25 Feeder Cattle are at $265.300, decreasing by $1.175.
Mar 25 Feeder Cattle are quoted at $264.950, down $1.250.
Apr 25 Feeder Cattle are priced at $265.325, a drop of $1.200.
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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