Live Cattle Futures Make Gains Amid Quiet Cash Trading
Live cattle futures are showing positive movement, with most contracts increasing by $1.50 to $1.80 at midday. Cash trade activity has largely been subdued, with some transactions reported at $208 in the northern markets and $204 in the south. On Friday morning, the Central Stockyards Fed Cattle Exchange recorded sales on 685 of the 1,450 head offered, with prices ranging from $204 to $206 in the South. Meanwhile, feeder cattle futures have risen by $1.72 to $3.35 so far today. The CME Feeder Cattle Index, however, decreased by $3.32 on April 9, bringing the average price down to $287.29.
According to the USDA, the National Wholesale Boxed Beef prices presented a mixed report on Friday morning, with the Choice/Select spread widening to $20.60. Choice boxes increased by 83 cents, reaching $335.12 per cwt, while Select boxes declined by 44 cents to $314.52. Additionally, the USDA estimated Thursday’s federally inspected cattle slaughter at 114,000 head, contributing to a weekly total of 463,000 head. This figure is 9,000 head lower than the previous week’s total and down by 16,641 head compared to the same week last year.
Don’t Miss a Day: Stay updated on commodity analysis, from crude oil to coffee, by signing up for Barchart’s insightful reports.
April 25 Live Cattle are trading at $202.350, gaining $1.500.
June 25 Live Cattle are listed at $196.775, up $1.575.
August 25 Live Cattle are reported at $193.975, increasing by $1.775.
April 25 Feeder Cattle are priced at $284.500, marking an increase of $1.725.
May 25 Feeder Cattle stand at $278.150, up by $2.850.
August 25 Feeder Cattle are at $283.275, gaining $3.350.
On the date of publication, Austin Schroeder did not hold positions in the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
More news from Barchart.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
