Live Cattle Futures Surge Amid Rising Beef Prices
Market Activities and Price Movements
Live cattle futures concluded Thursday’s trading session with significant gains, as contracts climbed between $1.97 and $3.05. While cash trade remains on hold this week, bids have surfaced at $190. The Fed Cattle Exchange online auction, held Thursday morning at Central Stockyards, reported no sales for the 1,036 head listed, with bids ranging from $188 to $190. Feeder cattle futures also saw increases, with prices rising by $3 to $4.50 across various contracts. However, the CME Feeder Cattle Index recorded a drop of $2.28, settling at $260.77 for December 25.
Wholesale Beef Prices Rise
According to the USDA’s Thursday afternoon report, wholesale Boxed Beef prices increased. Choice boxes rose by $4.41 to $320.39/cwt, while Select boxes climbed by $2.02, reaching $288.77. The USDA estimated that federally inspected cattle slaughter stood at 119,000 head on Thursday, bringing the total for the week to 275,000. This represents a decrease of 66,506 head compared to the same time last year.
Live Cattle and Feeder Cattle Futures Close
Here are the closing prices for cattle futures as of December 24:
- Dec 24 Live Cattle closed at $192.775, up $1.975
- Feb 25 Live Cattle closed at $190.100, up $2.725
- Apr 25 Live Cattle closed at $192.600, up $3.050
- Jan 25 Feeder Cattle closed at $259.300, up $3.450
- Mar 25 Feeder Cattle closed at $259.500, up $4.500
- Apr 25 Feeder Cattle closed at $260.025, up $4.175
On the date of publication, Austin Schroeder did not hold (either directly or indirectly) any positions in the securities mentioned in this article. All information and data in this article is intended solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.
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