Live cattle futures were held up by the rallying cash market, with contracts up $3.50 to $4.40 in the front months. February was up $6.35 on the week. Cash trade picked up this week, as trade settled in at $232 across the country, up $2-3 from last week. Feeder cattle futures rallied $5.85 to $8.05 in the front months on Friday, to start the new year off. January was up $9.925 this week. The CME Feeder Cattle Index was up $1.57 to $350.22 on January 1.
USDA Wholesale Boxed Beef prices were back higher in the Friday afternoon report, with the Chc/Sel spread at just $3.05. Choice boxes were up $2.52 to $349.97, while Select was $4.54 higher at $346.92. This week’s USDA federally inspected cattle slaughter was estimated at 474,000 head. That was a 48,000 head increase from last week but 30,893 head below last year.
Feb 26 Live Cattle closed at $236.000, up $4.400,
Apr 26 Live Cattle closed at $235.975, up $3.775,
Jun 26 Live Cattle closed at $230.350, up $3.575,
Jan 26 Feeder Cattle closed at $356.100, up $5.850,
Mar 26 Feeder Cattle closed at $352.950, up $7.625,
Apr 26 Feeder Cattle closed at $352.250, up $8.025,
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.
