Cattle Closes Mixed on Tuesday

Live cattle futures are down 50 cents in nearby December, with other contracts 20 to 30 cents higher.  There were 15 new deliveries on Tuesday for West Point, NE, with another 15 retendered in Kearney, NE. Cash trade has been quiet thus far this week. Last week was $220-225 in the north, with southern action at $225-226.50.

Feeder cattle futures were down 15 to 30 cents in the front months at Tuesday’s close. The CME Feeder Cattle Index was back up $1.44 to $344.50 on December 8. The Monday OKC feeder cattle auction saw 7,419 head sold. Sales were noted $6-10 higher on cattle over 800 lbs, with lighter calves under 800 lbs up $15-30

Commitment of Traders data showed managed money cutting 8,007 contracts from their net long position in the week ending on 11/4, taking it to 108,348 contracts. Specs were getting out of both longs and shorts in that week. In feeder cattle futures and options, spec funds were trimming 3,560 contracts from their net long, taking it to 17,763 contracts.

USDA reported Wholesale Boxed Beef prices mixed in the Tuesday afternoon report, with the Chc/Sel spread widening to $13.01. Choice boxes were up 14 cents to $362.97, while Select was 57 cents lower at $348.03. USDA federally inspected cattle slaughter was estimated at 123,000 head for Tuesday, with the weekly total at 238,000. That was 1,000 head above last week and 191 head shy of the same week last year. 

Dec 25 Live Cattle  closed at $226.825, down $0.500,

Feb 26 Live Cattle  closed at $226.950, up $0.275,

Apr 26 Live Cattle  closed at $226.900, up $0.200,

Jan 26 Feeder Cattle  closed at $335.500, down $0.150,

Mar 26 Feeder Cattle  closed at $330.150, down $0.275,

Apr 26 Feeder Cattle  closed at $329.475, down $0.250,