Cattle Rally, as Choice Beef Surpasses $400
Live cattle futures are posted gains of $2.90 to 3.90 across most contracts on Friday, with August up $3.70 on the week. Cash trade was mostly steady this week, with light dressed trade at $384-386 in the North and live action at $243-245. Southern sales have been picked up at $235. The Friday morning Fed Cattle Exchange online auction showed sales on 40 of the 1,188 head offered, at $242 in CO using the BidTheGrid™ method. Feeder cattle futures were back to rally mode on Friday, with contracts up $5.45 to $6.32, as August was up $6.75 this week. The CME Feeder Cattle Index was back down 26 cents to $345.75 on August 14.
Commitment of Traders data showed spec funds trimming 752 contracts from their net long position as of Tuesday to 124,813 contracts. In feeder cattle, managed money cut a total of 3,542 contracts from their net long to 33,537 contracts.
USDA Wholesale Boxed Beef prices were higher in the Friday PM report, with the Chc/Sel spread widening to $29.81. Choice boxes were up $6.78 at $400.57, while Select was $3.88 higher to $370.76. USDA estimated cattle slaughter for the week at 528,000 head. That was down just 7,000 head from last week and 67,484 head lower vs. the same week in 2024.
Aug 25 Live Cattle closed at $236.250, up $2.900,
Oct 25 Live Cattle closed at $230.650, up $3.825,
Dec 25 Live Cattle closed at $232.175, up $3.775,
Aug 25 Feeder Cattle closed at $346.150, up $5.750,
Sep 25 Feeder Cattle closed at $347.350, up $6.325,
Oct 25 Feeder Cattle closed at $345.900, up $5.450,
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.