Live Cattle Futures Experience Mixed Performance Amid Stable Cash Prices
On Tuesday, live cattle futures displayed a combination of gains and losses. Nearby December futures increased by 25 cents, while other contracts saw declines ranging from 7 to 12 cents. In cash markets, cattle prices were reported at $191-$192 in the Southern regions, with Northern trades reaching up to $195-$196. Trading activity on Monday remained quiet as most were assembling showlists.
Feeder Cattle Futures Show Strong Gains
Midday reports indicate that feeder cattle futures have risen by $1.15 to $1.45. The CME Feeder Cattle Index, however, fell by 86 cents compared to the previous day, settling at $261.73 as of December 13. At the OKC feeder cattle auction held on Monday, a total of 7,342 head were sold, with prices for feeder steers up by $5-$10 and calves increasing by $8-$13. Prices for feeder heifers and heifer calves remained steady.
Wholesale Beef Prices Reflect Mixed Trends
The USDA’s wholesale boxed beef prices showed some fluctuations in the Tuesday morning report. Choice boxes climbed 43 cents to $317.80 per hundredweight, while Select boxes decreased by 53 cents to $289.04. USDA data indicated that an estimated 118,000 head of cattle were federally inspected for slaughter on Monday. This number reflects a drop of 1,000 head compared to the previous Monday and is down 5,745 from the same day a year ago.
Current Live and Feeder Cattle Contract Prices
Dec 24 Live Cattle are trading at $192.275, an increase of $0.250.
Feb 25 Live Cattle are currently priced at $189.850, down by $0.125.
Apr 25 Live Cattle are at $191.675, which is a decrease of $0.075.
Jan 25 Feeder Cattle stand at $257.000, an increase of $1.450.
Mar 25 Feeder Cattle are listed at $257.575, up by $1.200.
Apr 25 Feeder Cattle are at $258.575, showing a gain of $1.150.
On the date of publication, Austin Schroeder did not hold any direct or indirect positions in the securities mentioned in this article. All information provided is for informational purposes only. For further information, please refer to the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
