Cattle Rally Resumes on Tuesday
Live cattle futures are showing gains on Tuesday, with contracts up $1.10 to $1.80. Cash trade was quiet on Monday, mostly compiling showlists. Last week saw northern dressed action at $385-392 and live trade at $245, with southern trade at 240.
Feeder cattle futures are up $2.05 to $2.90 so far on Tuesday. The CME Feeder Cattle Index was up $7.84 to $357.92 on August 22. Monday’s OKC weekly feeder auction saw sales on 6,173 head at $4-10 higher for feeders, with steer calves up $10-20 and heifer calves up $8-12.
USDA Wholesale Boxed Beef prices shot higher in the Tuesday AM report, with the Chc/Sel spread at $22.75. Choice boxes were up $6.48 at $414.97, while Select was $6.84 higher to $392.2238. USDA estimated cattle slaughter for Monday was 107,000 head. That was up 7,000 head from last week but 7,146 head lower vs. the same week in 2024.
Aug 25 Live Cattle are at $242.000, up $1.775,
Oct 25 Live Cattle are at $237.950, up $1.125,
Dec 25 Live Cattle are at $239.550, up $1.500,
Aug 25 Feeder Cattle are at $362.900, up $2.050
Sep 25 Feeder Cattle are at $364.800, up $2.900
Oct 25 Feeder Cattle are at $363.575, up $2.825
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.