Live cattle futures are showing 30 to 90 cent gains across most contracts on Tuesday. Cash trade last week centered in the $233 range across the South and $232-235 for the North. Feeder cattle futures are up 77 cents to $1.50 at midday. The CME Feeder Cattle Index was up 73 cents to $370.15 on January 15. Monday’s OKC feeder cattle auction showed 9,551 head sold with prices listed as steady to $4 lower on feeders.
CFTC data showed managed money increasing their net long in live cattle futures and options by 6,555 contracts to 101,316 contracts as of January 13. In feeder cattle futures & options, specs were trimming their net long by 530 contracts to 16,308 contracts.
USDA Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel spread widening out to $6.78. Choice boxes were up $1.99 to $366.32, while Select was 79 cents lower at $359.54. Monday’s USDA federally inspected cattle slaughter was estimated at 105,000 head. That was 9,000 head below last Monday and 7,839 head shy of the same Monday last year.
Feb 26 Live Cattle are at $232.450, up $0.300,
Apr 26 Live Cattle are at $234.625, up $0.650,
Jun 26 Live Cattle are at $230.500, up $0.900,
Jan 26 Feeder Cattle are at $362.700, up $0.775
Mar 26 Feeder Cattle are at $357.500, up $1.050
Apr 26 Feeder Cattle are at $356.275, up $1.375
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
