Cattle Trading with Gains on Tuesday
Live cattle futures are posting gains of 20 to 35 cents at Tuesday’s midday. Cash action saw trade last week anywhere from $189-190. So far this week most action has been compiling showlists.
Feeder cattle futures are trading 30 to 52 cents higher as we trade through Tuesday. The CME Feeder Cattle Index was up 2 cents at $251 on November 1. Monday’s OKC feeder cattle online auction showed just 1,995 head for sale, well below the same week last year and last week due to rains limiting livestock movement. Sales were noted as steady from the week prior.
Beef exports in September came in at 239.58 million lbs according to converted Census data, which was up 3.5% from last year and 0.6% above the month prior.
USDA wholesale Boxed Beef prices were mixed in the Tuesday morning report. Choice boxes were up $1.77 to $318.68/cwt, with Select 44 cents lower @ $286.72. The Chc/Sel spread widened to $31.96. USDA estimated Monday’s federally inspected cattle slaughter at 120,000 head. That is 1,000 head below the previous Monday and down 2,687 head from the same Monday last year.
Dec 24 Live Cattle are at $185.275, up $0.200,
Feb 25 Live Cattle are at $186.250, up $0.325,
Apr 25 Live Cattle are at $187.075, up $0.200,
Nov 24 Feeder Cattle are at $246.650, up $0.300
Jan 25 Feeder Cattle are at $242.950, up $0.525
Mar 25 Feeder Cattle are at $240.700, up $0.450
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.
