Cattle Rally Continuing to Start New Week
Live cattle futures are $1.70 to $2.22 higher at the midday portion of trade on Monday. Cash cattle trade last week closed in on $234-235 for much of the country, $2 higher in the South and up $4-5 in the North. Feeder cattle futures are up $1 to $2.15 so far on Monday. The CME Feeder Cattle Index was up another 57 cents at $367.92 on October 9. Monday’s OKC feeder cattle auction has an estimated 5,500 head for sale, with early action noted as sharply higher.
USDA Wholesale Boxed Beef prices were mixed in the Monday morning report, with the Chc/Sel spread at $16.43. Choice boxes were down 84 cents to $364.73, while Select was $1.91 higher at $348.30. USDA federally inspected cattle slaughter for last week was estimated to total 547,000 head. That is 15,000 head below last week and 38,337 shy of the same week last year.
Oct 25 Live Cattle are at $240.425, up $1.950,
Dec 25 Live Cattle are at $244.750, up $2.225,
Feb 26 Live Cattle are at $247.100, up $1.700,
Oct 25 Feeder Cattle are at $376.500, up $1.000
Nov 25 Feeder Cattle are at $377.100, up $1.200
Jan 26 Feeder Cattle are at $374.100, up $2.150
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.