Cattle Rallying on Tuesday
Live cattle futures are trading with midday gains of 85 cents to $1.10. There were no new deliveries on Monday for October cattle. Last week there were Southern cash sales of $188 and Northern sales of $188 live and $296 in the beef. Early week action so far has been compiling showlists.
Feeder cattle futures are up $1 to $2.025 so far at midday. The CME Feeder Cattle Index was down 54 cents at $250.26 on October 18. Monday’s OKC feeder cattle auction had 8,620 head for sale, which is well above last week and the same week last year. Sales were reported steady to down $3 for feeder steers under 800 lbs, steady to $2 higher for steers over 800 lbs, and steady to $2 lower for feeder heifers. Heifer calves were steady, with steer calves firm to down $4.
USDA wholesale Boxed Beef prices were mixed in the Tuesday morning report. Choice boxes were up $1.24 to $324.10/cwt, with Select $2.60 lower @ $293.61. The Chc/Select spread widened to $30.49. USDA estimated Monday’s federally inspected cattle slaughter at 120,000 head. That is even with the previous Monday but down 4,928 head from the same Monday last year.
Oct 24 Live Cattle are at $187.850, up $0.850,
Dec 24 Live Cattle are at $187.925, up $1.100,
Feb 25 Live Cattle are at $188.600, up $0.975,
Oct 24 Feeder Cattle are at $249.050, up $1.475
Nov 24 Feeder Cattle are at $248.625, up $2.025
Jan 25 Feeder Cattle are at $245.650, up $1.400
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.