Live cattle futures settled the Tuesday session with 60 to 85 cent gains across most nearby contracts. Early week cash action has mostly been compiling showlists. Last week’s cash trade was mostly $199 in the South and North trade at $199-200. Feeders were Tuesday’s bullish leaders, up another $1.75 to $2 at the session close. CME’s Feeder Cattle Index was up another 7 cents on February 24, taking the index to $279.44.
Tuesday afternoon’s National Wholesale Boxed Beef report from the USDA as slightly higher, with the Chc/Sel spread back up to $10.19. Choice boxes were 59 cents higher at $314.32/cwt, with Select up 16 cents higher to $304.13. USDA estimated Tuesday’s Federally inspected cattle slaughter at 122,000, taking the weekly total to 217,000 head. That is 4,000 head above the previous week but still down 28,479 head from the same week last year.
Feb 25 Live Cattle closed at $199.500, up $0.600,
Apr 25 Live Cattle closed at $195.725, up $0.625,
Jun 25 Live Cattle closed at $192.250, up $0.850,
Mar 25 Feeder Cattle closed at $274.225, up $1.925,
Apr 25 Feeder Cattle closed at $273.800, up $1.775,
May 25 Feeder Cattle closed at $272.325, up $1.975,
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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