Live cattle futures are trading with contracts up $1 to $1.25 in most contracts as Dec expires today. Cash trade has yet to kick off this week, as last week’s sales were reported at $192-193 in the South, up $1-2, and $196-197 in the North, $1-2 higher. Feeder cattle futures are rallying $1.50 to $2 at midday on the last day of 2024. The CME Feeder Cattle Index was down $4.35 from the day prior at $253.97 on December 27. The market will be closed on Wednesday for New Years Day.
Weekly CFTC data was delayed due to last week’s holiday, with specs trimming their net long position by 5,779 contracts to 128,569 contracts as of 12/24.
USDA wholesale Boxed Beef prices were higher in the Tuesday morning report. Choice boxes were down 51 cents at $324.86/cwt and Select 48 cents lower @ $294.28. USDA estimated federally inspected cattle slaughter at 123,000 head on Monday. That is up 5,000 head from last Monday.
Dec 24 Live Cattle are at $193.950, down $0.125,
Feb 25 Live Cattle are at $191.525, up $1.225,
Apr 25 Live Cattle are at $194.200, up $1.175,
Jan 25 Feeder Cattle are at $263.175, up $1.550
Mar 25 Feeder Cattle are at $263.000, up $1.950
Apr 25 Feeder Cattle are at $263.275, up $2.000
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.
