Live cattle futures are up another 52 to 62 cents so far on Monday to extend the rally. Last week’s cash trade was reported at $200-201 in the South and live sales of $202 and a few up to $205 in the North. Feeder cattle futures are up 10 to 40 cents in most contracts, as January continues to rally with the index, up $3.17. The CME Feeder Cattle Index was up another $3.55 from the day prior at $278.55 on January 9. The Weekly OKC feeder cattle auction shows 7,500 head listed, nearly even with last week and well below last year. Early action has been listed as higher.
USDA wholesale Boxed Beef prices were mixed in the Monday AM report, with the Chc/Sel spread narrowing to $15.22. Choice boxes were down 52 cents at $332.32/cwt, with Select $2.69 higher @ $317.10. USDA estimated federally inspected cattle slaughter for last week at 589,000 head through Saturday. That is 83,000 above last week and up 54,098 head from the same week last year.
Feb 25 Live Cattle are at $198.125, up $0.525,
Apr 25 Live Cattle are at $198.900, up $0.625,
Jun 25 Live Cattle are at $193.250, up $0.525,
Jan 25 Feeder Cattle are at $272.400, up $3.175
Mar 25 Feeder Cattle are at $268.675, up $0.375
Apr 25 Feeder Cattle are at $269.250, up $0.175
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. More news from BarchartThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
