Live Cattle Futures Show Notable Gains Amid Rising Cash Prices
Current Trends in Cattle Futures and USDA Reports
Live cattle futures experienced significant gains on Tuesday, rising between $2.80 and $3.45 for nearby contracts by the close. Early last week, cash sales were reported at $201 in the South, with prices increasing to $208 in Kansas by the end of the week. In the Northern markets, prices ranged from $205 to $212, predominantly settling around $210-212.
Feeder cattle futures also showed strength, posting increases of $3.00 to $3.40 by midday. January contracts rose by $2.10 as they approach Thursday’s expiration. The CME Feeder Cattle Index noted a $1.13 increase from the previous day, settling at $279.06 on January 27. At the weekly OKC feeder cattle auction, approximately 13,638 head were listed for sale on Monday, with sales rising firm to $5 higher and some even hitting increases of $10.
The USDA’s wholesale Boxed Beef prices reflected upward movement in the Tuesday PM report, with the Choice/Select spread at $10.49. Choice boxes gained $2.37, reaching $332.45 per hundredweight, while Select boxes increased by $1.41 to $321.96. The USDA estimated federally inspected cattle slaughter at 124,000 head on Tuesday, bringing the weekly total to 238,000 head. This figure is 1,000 head below last week and shows a decrease of 11,897 head from the same week last year.
Feb 25 Live Cattle closed at $208.550, up $2.875.
Apr 25 Live Cattle closed at $207.275, up $3.450.
Jun 25 Live Cattle closed at $201.350, up $3.150.
Jan 25 Feeder Cattle closed at $281.825, up $2.100.
Mar 25 Feeder Cattle closed at $278.250, up $3.000.
Apr 25 Feeder Cattle closed at $277.800, up $3.375.
At the time of publication, Austin Schroeder had no direct or indirect positions in any of the securities mentioned. All information in this article is intended for informational purposes only. For more details, please refer to the Barchart Disclosure Policy
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