Cattle Rallying to Begin the Week
Live cattle futures are trading with $4.15 to 4.40 gains across most contracts at midday, to kick off the week with strength. Cash activity narrowed in at $240 across the country down $2 from last week. Feeder cattle futures are up $7.15 to $8.40 on Monday, as contracts near the limit higher. The CME Feeder Cattle Index was down 40 cents at $363.08 on September 11. The weekly OKC feeder cattle auction showed 6,000 head for sale, with price action announced later.
Managed money was busy adding a slight 561 contracts to their large net long position in live cattle futures and options of 131,003 contracts as of Tuesday. Feeder cattle futures and options, spec traders cut back another 2,739 contracts from their net long position to 25,636 contracts.
USDA Wholesale Boxed Beef prices were back higher in the Monday AM report, with the Chc/Sel spread at $23.30. Choice boxes were up $1.85 at $401.89, while Select was another 15 cents higher to $378.59. USDA federally inspected cattle slaughter for last week was estimated at 561,000 head. That was 62,990 head lower vs. the same week in 2024.
Oct 25 Live Cattle are at $234.325, up $4.350,
Dec 25 Live Cattle are at $236.075, up $4.150,
Feb 26 Live Cattle are at $237.600, up $4.375,
Sep 25 Feeder Cattle are at $358.225, up $7.825
Oct 25 Feeder Cattle are at $354.175, up $8.375
Nov 25 Feeder Cattle are at $350.400, up $7.150
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.