Live cattle futures are down 10 to 20 cents across the front months on Monday. December was down $2.22 on the week. Cash trade last week settled in with Northern sales of $186-188 and Southern action at $187.
Feeder cattle futures are showing 22 cent gains in the Nov contracts with others down 22 cents. The CME Feeder Cattle Index was down 6 cents at $249.86 on November 7. Monday’s OKC Feeder Cattle auction showed an estimated 6,200 head for sale, which is well above last week but down from the 9,169 last year. Early demand has been noted as good.Â
CFTC data showed specs in live cattle futures and options trimming back 731 contracts from their net long to 97,838 contracts by November 5. Managed money in feeder cattle futures and options were increasing their net long position by 2,414 contracts to 11,374 contracts by Tuesday.
USDA wholesale Boxed Beef prices were back higher in the Monday morning report. Choice boxes were up 23 cents to $308.16 /cwt, with Select 55 cents higher @ $279.74. The Chc/Sel spread narrowed to $28.42. USDA estimated the weekly federally inspected cattle slaughter at 619,000 head for last week. That was 4,000 head above the previous week but down 3,952 head from the same week last year.
Dec 24 Live Cattle  are at $183.575, down $0.125,
Feb 25 Live Cattle  are at $185.125, down $0.175,
Apr 25 Live Cattle  are at $186.425, down $0.100,
Nov 24 Feeder Cattle  are at $245.650, up $0.225
Jan 25 Feeder Cattle  are at $241.200, down $0.225
Mar 25 Feeder Cattle  are at $239.150, down $0.225
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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