Cattle Gains Extending on Tuesday
Live cattle futures are holding higher on Tuesday with contracts up 55 to 70 cents at midday. Cash trade has yet to see any movement this week but closed last week with the South coming in at $212-213 and Northern trade up to $217-218.
Feeder cattle futures are rallying on Tuesday, with gains of $1.55 to $2.37. The CME Feeder Cattle Index was back up $3.83 on April 25, with the average price at $293.71. The weekly OKC feeder cattle auction had 4,921 head for sale, with steers up $5-10 from last week and heifers $5-13 higher.
USDA’s National Wholesale Boxed Beef report was mixed on Tuesday morning, as the Chc/Sel widened to $21.39. Choice boxes were $3.42 higher at $346.19/cwt, with Select down 31 cents to $324.81. Federally inspected cattle slaughter was estimated at 104,000 head for Monday. That is 1,000 head below the Monday prior and down 5,648 head from the same week last year.
Apr 25 Live Cattle are at $216.300, up $0.650,
Jun 25 Live Cattle are at $210.275, up $0.675,
Aug 25 Live Cattle are at $205.900, up $0.575,
May 25 Feeder Cattle are at $294.175, up $2.375
Aug 25 Feeder Cattle are at $296.775, up $1.825
Sep 25 Feeder Cattle are at $295.625, up $1.550
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.