Live cattle futures are down 12 to 50 cents in the front months with April up 47 cents. There was some light cash trade picked up on Monday at $208 by the USDA in the Western Corn Belt. Light dressed action was noted in the North on Tuesday at $330. Tuesday’s Fed cattle online exchange saw no sales on the 2,052 head offered, with bids of $207 in NM and TX. Last week’s cash trade was $215-219 in the North, with $220-224 in the South.
Feeder cattle futures are back up $1.67 to $2.75 so far on Tuesday. The CME Feeder Cattle Index was down $3.34 to $336.38 on November 21. The weekly OKC feeder cattle auction had an estimated 3,302 head for sale, with feeders down $10-20 and calves down $20-40 early.
Beef export sales in the week ending on October 9 were tallied at 12,624 MT, which was a 3-week low. Shipments were 12,602 MT in that week.
USDA reported Wholesale Boxed Beef prices higher in the Tuesday AM report, with the Chc/Sel spread widening to $13.08. Choice boxes were down $1.56 to $372.05, while Select was $3.46 higher at $358.97. USDA federally inspected cattle slaughter for Monday was estimated at 120,000 head. That 4,000 head above last Monday but 2,245 head below the same week last year.
Dec 25 Live Cattle are at $207.075, down $0.125,
Feb 26 Live Cattle are at $207.050, down $0.475,
Apr 26 Live Cattle are at $208.375, up $0.475,
Jan 26 Feeder Cattle are at $306.650, up $1.675
Mar 26 Feeder Cattle are at $300.400, up $2.600
Apr 26 Feeder Cattle are at $298.850, up $2.750
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. This article was originally published on Barchart.com
