Live Cattle Futures Market News and Commentary
Cattle futures shook off the COF report and closed the day with gains of 25 cents to 60 cents. Feeders were mixed but mostly higher, up 32 to 90 cents in the front months with a 17 cent drop in March. The 9/25 Feeder Cattle Index from CME was up $0.38 to $142.61. This week’s cash trade has yet to develop. Last week the bulk of sales was $105 live based and $165 in the beef. Wholesale boxed beef prices were lower on Monday. Choice boxes were down $1.62 cwt. to $217.72, and Select boxes were 56 cents lower to $206.42. USDA’s estimates Monday’s FI cattle slaughter at 118k head. That is below 120k last week but 4,000 head above the same Monday in 2019.
Oct 20 Cattle closed at $107.950, up $0.375,
Dec 20 Cattle closed at $111.650, up $0.250,
Feb 21 Cattle closed at $115.025, up $0.425,
Oct 20 Feeder Cattle closed at $140.925, up $0.600
Nov 20 Feeder Cattle closed at $141.100, up $0.950
Jan 21 Feeder Cattle closed... Read more