Live cattle futures fell weaker on the Friday session, with losses of $1.80 to $2.27. February was $3.025 lower last week. Cash trade for the week settled in at $202-203 in the South and $203 in the North down from $205 and $208 respectively last week. Feeder cattle futures headed into the long weekend $1.30 to $1.62 lower, as nearby March was up $1.45 last week. The CME Feeder Cattle Index was ticked just 7 points higher on February 14 to $276.30.
Managed money speculators in live cattle futures and options were slashing 14,665 contracts from their net long as of Tuesday to 135,709 contracts. In feeder cattle, spec funds were adding 192 contracts to their net long at 28,367 contracts by February 11.
The government was closed on Monday but still updated the National Wholesale Boxed Beef report, showing mixed trade and widening as the Chc/Sel spread narrowed to $8.47. Choice boxes were up $1 at $315.70/cwt, with Select back down 91 cents to $306.23. Monday’s Federally inspected cattle slaughter was estimated at just 95,000 head according to the USDA. That is even with Monday and 5,994 head below the Monday last year.
Feb 25 Live Cattle closed at $197.750, down $1.800,
Apr 25 Live Cattle closed at $194.250, down $2.275,
Jun 25 Live Cattle closed at $190.450, down $1.975,
Mar 25 Feeder Cattle closed at $266.350, down $1.625,
Apr 25 Feeder Cattle closed at $266.425, down $1.550,
May 25 Feeder Cattle closed at $265.000, down $1.300,
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 Barchart
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