Live cattle futures are trading with 80 cent to $1 losses so far on the session. Cash action saw trade last week anywhere from $189-190. Feeder cattle futures are also fading lower with 60 cent to $1 losses at midday. The CME Feeder Cattle Index was down 22 cents at $250.98 on October 31.Â
Friday’s Commitment of Traders report showed managed money adding 8,178 contracts to their net long in live cattle futures and options as of 10/29. That took them to a net long of 98,569 contracts. In feeder cattle, they backed off their net long by 555 contracts to 8,960 contracts.
USDA wholesale Boxed Beef prices were back up in the Monday morning report. Choice boxes were up $1.69 to $318.03/cwt, with Select $1.57 higher @ $286.60. The Chc/Sel spread widened to $31.43. USDA estimated last week’s federally inspected cattle slaughter at 615,000 head. That is 8,000 head below the previous week and down 21,337 head from the same week last year.
Dec 24 Live Cattle  are at $184.925, down $1.000,
Feb 25 Live Cattle  are at $185.900, down $1.000,
Apr 25 Live Cattle  are at $186.875, down $0.825,
Nov 24 Feeder Cattle  are at $246.275, down $0.600
Jan 25 Feeder Cattle  are at $242.275, down $0.925
Mar 25 Feeder Cattle  are at $240.175, down $0.975
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.
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