Live Cattle Futures PricesTue, Oct 25th, 2016
Open Interest is for the previous day's trading session.
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Live cattle futures are 50 to 90 cents higher as we reach the midpoint of the futures trading day. Feeder futures are up $.20 to $1.57, with October constrained by its premium to the CME Index and November seeing most of the buying interest. Boxed beef prices are mixed this morning, with Choice boxes up 41 cents and Select down 53 cents from yesterday. Cash cattle activity has been minimal thus far. Asking prices appear to be $103-105. We are in the October delivery period, after all. Cash and futures are supposed to converge here. There have been only 6 deliveries so far, due to futures being cheap vs. cash. The oldest long is from June 29.
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