29.1 F
New York
Tuesday, December 24, 2024
More
    HomeMost PopularMixed Monday Cattle Market Results: Strong Gains in Feeder Prices

    Mixed Monday Cattle Market Results: Strong Gains in Feeder Prices

    Daily Market Recaps (no fluff)

    always free

    Cattle Market Update: A Look at Live and Feeder Futures

    Current Futures Prices and Cash Trade Overview

    Live cattle futures dipped slightly by 95 cents, while some contracts saw a rise of 7 to 10 cents. This week, cash trade has not yet commenced, but last week’s figures showed steady rates, with prices ranging from $195 to $195.50 in the North and $191 in the South. Meanwhile, feeder cattle futures generally remained stable, with most contracts seeing an increase between a tick and $1. The CME Feeder Cattle Index rose by 85 cents to $263.00 on December 20.

    Beef Stock and Monthly Cattle on Feed Data

    As of the end of November, beef stocks stood at 440.5 million pounds, reflecting a decrease of 3.69% compared to last year, but up 1.8% from October due to seasonal factors.

    Data released on Friday indicated that 1.796 million head of cattle were placed on feed in November, a 3.7% drop from last year but slightly above expectations. Marketings for November decreased by 1.48% to 1.725 million head, surpassing pre-report expectations. The feed inventory on December 1 checked in at 11.982 million head, down 0.28% from the previous year.

    See also  "Two Must-Have Tech Stocks for Your Investment Portfolio Today"

    Boxed Beef Prices and Slaughter Numbers

    According to the USDA’s Monday afternoon report, wholesale Boxed Beef prices increased. Choice boxes climbed 13 cents to $315.98 per hundredweight, while Select boxes were up 84 cents to $286.75. The USDA also estimated that federally inspected cattle slaughter for Monday reached 118,000 head, matching last week’s figures but significantly surpassing the numbers from the same Christmas Monday last year.

    Futures Closing Prices

    Dec 24 Live Cattle closed at $190.975, down $0.350.

    Feb 25 Live Cattle closed at $187.450, down $0.950.

    Apr 25 Live Cattle closed at $189.700, down $0.425.

    Jan 25 Feeder Cattle closed at $256.600, up $1.000.

    Mar 25 Feeder Cattle closed at $256.000, up $0.175.

    Apr 25 Feeder Cattle closed at $256.775, up $0.025.


    On the date of publication, Austin Schroeder did not own (either directly or indirectly) positions in any of 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.

    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

    Do you want a daily market summary with no fluff?

    Simple Straightforward Daily Stock Market Recaps Sent for free,every single trading day: Read Now

    Explore More

    Simple Straightforward Daily Stock Market Recaps

    Get institutional-level analysis to take your trading to the next level, sign up for free and become apart of the community.

    Related Articles

    spot_img