Cattle Rally Back on Monday
Live cattle futures posted $1.10 to $1.50 gains on Monday. Today was first notice day for Feb live cattle, with no deliveries issued. Cash trade was reported at $208 in the North last week, with Southern sales coming in at $206, down $2 from the week prior.
Feeder cattle futures were rallying as well, up $2.70 to $3.25. The CME Feeder Cattle Index was up 17 cents from the day prior at $275.76 on February 7. The Monday OKC weekly feeder cattle auction has an estimated 4,743 head for sale, which is nearly half of last week and down from the same week last year. Sales on steers were steady to down $5, with lighter calves $12 lower. Feeder heifers were up $5, with heifer calves down $3-6.
USDA wholesale Boxed Beef prices were back higher in the Monday PM report, with the Chc/Sel spread @ $9.58. Choice boxes were back up $1.63 to $323.50/cwt, with Select $1.02 higher at $313.92. USDA estimated Monday’s federally inspected cattle slaughter at 100,000 head. That was 15,000 head below last week and down 14,805 head from the same week last year.
Feb 25 Live Cattle closed at $201.875, up $1.100,
Apr 25 Live Cattle closed at $198.125, up $1.350,
Jun 25 Live Cattle closed at $193.200, up $1.100,
Mar 25 Feeder Cattle closed at $268.125, up $3.225,
Apr 25 Feeder Cattle closed at $267.775, up $2.950,
May 25 Feeder Cattle closed at $266.325, up $2.725,
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.