Cattle Fall Into the Weekend

Live cattle futures were under pressure for Friday trade, with losses of $1.80 to $2.27, as Feb was $3.025 lower this week. Cash trade for the week settled in at $202-203 in the South and $203 in the North down from $205 and $208 respectively last week. Feeder cattle futures were $1.30 to $1.62 in the red on the session, as nearby March was up $1.45 this week. The CME Feeder Cattle Index was back up $1.89 on February 11 to $276.23. The markets will be closed on Monday for President’s Day, with a normal open for the Tuesday session.

Managed money speculators in live cattle futures and options were slashing 14,665 contracts from their net long as of Tuesday to 135,709 contracts. In feeder cattle, spec funds were adding 192 contracts to their net long at 28,367 contracts by February 11. 

The National Boxed Beef prices were reported $2.70 lower across both cuts in the Friday afternoon report, as the Chc/Sel spread narrowed to $7.56. Choice boxes were at $314.70/cwt, with Select at $307.14.  This week’s Federally inspected cattle slaughter was estimated at 561,000 head according to the USDA. That is down 23,000 head from last week and 47,466 head below the same week last year.

Feb 25 Live Cattle  closed at $197.750, down $1.800,

Apr 25 Live Cattle  closed at $194.250, down $2.275,

Jun 25 Live Cattle  closed at $190.450, down $1.975,

Mar 25 Feeder Cattle  closed at $266.350, down $1.625,

Apr 25 Feeder Cattle  closed at $266.425, down $1.550,

May 25 Feeder Cattle  closed at $265.000, down $1.300,