Live Cattle Futures Experience Moderate Gains Amid Quiet Trade

Live cattle futures saw modest increases on Monday, rising between 30 and 70 cents. As the week begins, cash trade remains subdued, with most market participants compiling showlists on Monday. Last week, prices ranged from $196 to $198 in the southern region, while northern trade was reported between $200 and $202, indicating steady prices with a week-over-week increase of up to $2. Feeder cattle contracts experienced mixed results, with prices fluctuating from an increase of 35 cents to a decrease of 25 cents. The CME Feeder Cattle Index rose by 18 cents on March 7, bringing the average price to $273.95. At the Monday OKC feeder cattle auction, about 5,000 head were estimated, which is nearly half of the previous week’s auction total and slightly below the same week last year. Feeder steers increased in price by $5 to $10, while heifers were up $3 to $8. Notably, lighter weight steers gained $5 to $15, while prices for heifers held steady.

Boxed Beef Prices and Slaughter Estimates

On Monday afternoon, National Wholesale Boxed Beef prices increased, resulting in a Chc/Sel spread of $10.63. Choice boxed beef rose by $2.68 to $317.58 per hundredweight, with Select boxes also showing gains, up $1.15 to $306.95. The USDA estimated Monday’s federally inspected cattle slaughter at 115,000 head, which is 13,000 head more than the previous Monday and 3,088 head larger than the same week last year.

Live Cattle and Feeder Cattle Closing Prices

Apr 25 Live Cattle closed at $200.575, up $0.300.

Jun 25 Live Cattle closed at $197.225, up $0.750.

Aug 25 Live Cattle closed at $195.100, up $0.750.

Mar 25 Feeder Cattle closed at $277.050, up $0.075.

Apr 25 Feeder Cattle closed at $277.925, down $0.225.

May 25 Feeder Cattle closed at $278.550, up $0.350.

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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