Live cattle futures are down 55 cents to $1.02 so far on Monday. Cash trade has yet to begin this week, with last week showing steady trade, at $195-195.50 in the North and $191 in the South. Feeder cattle futures are mixed at midday, with front months 10 to 80 cents higher and other contracts lower. The CME Feeder Cattle Index was down 8 cents from the day prior at $262.15 on December 19.
Monthly Cattle on Feed data was released on Friday afternoon, showing a total of 1.796 million head of cattle placed during November, which was down 3.7% from last year and slightly above estimates. November marketings were down 1.48% at 1.725 million head, above the pre-report trade expectations. December 1 on feed inventory was down 0.28% at 11.982 million head from last year.
Commitment of Traders data showed managed money spec funds expanding their net long position by 8,040 contracts as of Tuesday the largest new long in over 5 ½ years to 134,348 contracts. In feeder cattle, CFTC data showed specs increasing their net long by 712 contracts to a near record 20,578 contracts.
USDA wholesale Boxed Beef prices were mixed in the Monday morning report. Choice boxes were down 80 cents to $315.05/cwt, with Select $1.92 higher @ $287.83. USDA estimated last week’s federally inspected cattle slaughter at 617,000 head. That is up 8,000 head from the previous week but down 4,036 head from the same week last year.
Dec 24 Live Cattle are at $190.775, down $0.550,
Feb 25 Live Cattle are at $187.375, down $1.025,
Apr 25 Live Cattle are at $189.550, down $0.575,
Jan 25 Feeder Cattle are at $256.400, up $0.800
Mar 25 Feeder Cattle are at $255.925, up $0.100
Apr 25 Feeder Cattle are at $256.650, down $0.100
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- Are Cattle Prices Heading for Record Highs in 2025?
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