Live cattle futures were 15 to 35 cents higher at the Tuesday settlement. Open interest was up 2,007 contracts. Cash trade has yet to get kicked off this week, as last week was mostly $230. Feeder cattle futures were up $2.50 to $3.40 to close Tuesday. OI rose 347 contracts. The CME Feeder Cattle Index was up 60 cents to $347.37 on December 12.
USDA Wholesale Boxed Beef prices were mixed in Tuesday afternoon’s report, with the Chc/Sel spread narrowing to $9.78. Choice boxes were down 58 cents to $358.88, while Select was $1.80 higher at $349.10. USDA federally inspected cattle slaughter was estimated at 121,000 head on Tuesday, with the weekly total at 231,000 head. That was 7,000 head below last week and 8,533 head shy of the same week last year.
Dec 25 Live Cattle closed at $231.150, up $0.325,
Feb 26 Live Cattle closed at $230.700, up $0.150,
Apr 26 Live Cattle closed at $230.275, up $0.250,
Jan 26 Feeder Cattle closed at $343.325, up $3.400,
Mar 26 Feeder Cattle closed at $337.600, up $2.750,
Apr 26 Feeder Cattle closed at $336.300, up $2.525,
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.
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