Cattle Extend Rally on Monday

Live cattle futures closed the Monday session with contracts up $1.70 to $2.15. Cash trade was strong last week, settling in across the country at $203 in the South, with Northern action at $205-206. 

Feeder cattle posted gains of $2.65 to $3 across the front months on Monday. The CME Feeder Cattle Index was back up $0.55 on March 14, with the average price at $283.27. The weekly OKC feeder cattle auction had an estimated 7,800 head for sale, above the same week last year and the previous week. Sales were listed at $5-10 higher for feeder steers and up $2-6 for feeder heifers. steer caves were up $3-6, with heifers steady.

The National Wholesale Boxed Beef report from USDA was higher on Monday afternoon, as the Chc/Sel widened to $13.26. Choice boxes were up $2.89 at $321.16/cwt, with Select $1.58 higher at $307.90. Monday’s Federally inspected cattle slaughter was estimated at 114,000 head by the USDA. That is 1,000 head below the previous Monday, and down 3,837 from the same Monday last year.

Apr 25 Live Cattle  closed at $205.025, up $1.850,

Jun 25 Live Cattle  closed at $201.075, up $1.725,

Aug 25 Live Cattle  closed at $198.850, up $2.150,

Mar 25 Feeder Cattle  closed at $284.625, up $2.650,

Apr 25 Feeder Cattle  closed at $284.200, up $3.000,

May 25 Feeder Cattle  closed at $285.300, up $2.650,

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