Cattle Rallying Ahead of USDA Data Release
Live cattle futures are up $1.15 to $2.20 across most contracts on Friday. Cash trade has been slow this week, with some northern dressed action at $385 and live trade at $245. The Friday morning Fed Cattle Exchange online auction showed $245 BidTheGrid™ sales on 80 of the 1,264 head offered in IA and CO. Other live bids of $235 were reported in the South. Feeder cattle futures are trading with $3.60 to $4.25 gains ahead of the Friday afternoon Cattle on Feed report. The CME Feeder Cattle Index was up $1.86 to $347.44 on August 20.
USDA will release Cattle on Feed data this afternoon, with analysts looking for July placements at 8.9% below last year and marketings down 5.9% from 2024. August 1 on feed inventory is estimated to be down 2%.
USDA Wholesale Boxed Beef prices were mixed in the Friday morning report, with the Chc/Sel spread narrowing back to $23.02. Choice boxes were down 99 cents at $406.87, while Select was 25 cents higher to $383.85. USDA estimated cattle slaughter for Thursday at 116,000 head, taking the weekly total to 450,000 head. That was up 4,000 head from last week but 33,733 head lower vs. the same week in 2024.
Aug 25 Live Cattle are at $239.800, up $1.150,
Oct 25 Live Cattle are at $236.900, up $2.175,
Dec 25 Live Cattle are at $238.425, up $2.025,
Aug 25 Feeder Cattle are at $360.350, up $3.975
Sep 25 Feeder Cattle are at $362.275, up $4.250
Oct 25 Feeder Cattle are at $361.700, up $3.600
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.