Live Cattle Futures Surge Amid Stabilizing Cash Prices

On Wednesday, live cattle futures saw increases ranging from 87 cents to $1.10. The cash market began with reported sales between $188 and $190 nationwide. An online auction this morning from Central Stockyards revealed that out of 1,300 head listed, half were sold for $189 to $189.50.

Feeder Cattle Prices Show Solid Gains

Feeder cattle prices also rose by 60 to 90 cents across most contracts, supported by ongoing cash market strength. The CME Feeder Cattle Index increased by 23 cents, reaching $255.94 as of November 26.

Beef Prices Dip; Slaughter Numbers Below Last Year

In Wednesday’s afternoon report, USDA wholesale Boxed Beef prices experienced a decline. Choice boxes slid by 31 cents to $311.26 per cwt, while Select boxes decreased by $1.19 to $274.30. The spread between Choice and Select beef prices widened to $36.96. Additionally, USDA estimated Wednesday’s federally inspected cattle slaughter at 124,000 head, bringing the weekly total to 370,000 head. This figure is down 1,000 head from the previous week and shows a drop of 6,872 head compared to the same week last year.

Futures Prices at a Glance

Dec 24 Live Cattle closed at $188.00, up $1.10.

Feb 25 Live Cattle closed at $188.60, up $0.90.

Apr 25 Live Cattle closed at $190.425, up $0.875.

Jan 25 Feeder Cattle closed at $258.775, up $0.675.

Mar 25 Feeder Cattle closed at $257.30, up $0.825.

Apr 25 Feeder Cattle closed at $258.40, up $0.90.

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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