Live cattle futures posted some Monday weakness, with losses of 40 to 75 cents across the front months. Cash trade was quiet on Monday, with some Northern cleanup trade at $310 in the beef. Last week’s sales were reported at $197 in the south and light $198-199 trade in the North. Feeder cattle futures were 90 to 95 cents in the red at the Monday close. The CME Feeder Cattle Index was back down 4 cents on Friday, with the average price at $280.58. The weekly OKC feeder cattle auction showed 11,500 head for sale, well above last week. Sales were steady to $3 for feeder cattle, with lighter weight steers $10-15 higher and heifers steady.
USDA’s National Wholesale Boxed Beef report was higher on Monday afternoon, with the Chc/Sel spread up to $11.52. Choice boxes were up $2.10 at $313.93/cwt, with Select back up 36 cents to $302.41. The Monday Federally inspected cattle slaughter from USDA was estimated at 102,000 head. That is 7,000 head above the previous Monday, but still down 15,485 head from the same week last year.
Apr 25 Live Cattle closed at $192.250, down $0.400,
Jun 25 Live Cattle closed at $188.100, down $0.675,
Aug 25 Live Cattle closed at $187.175, down $0.750,
Mar 25 Feeder Cattle closed at $274.025, down $0.950,
Apr 25 Feeder Cattle closed at $272.050, down $0.950,
May 25 Feeder Cattle closed at $270.200, down $0.925,
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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