Cattle Rallying Higher on Tuesday
Live cattle futures are posting $1.30 to $2.15 higher trade at midday on Tuesday. Cash action was mostly compiling showlists on Monday, with last week’s action settling in steady from the previous week at $209-210 in the South and $213-214 in the North. Dressed trade was $335-345 in the North.
Feeder cattle futures are posting higher trade on Tuesday, with contracts up $1.75 to $2.70. The CME Feeder Cattle Index was back up $4.74 on March 28, with the average price at $291.50. The weekly OKC feeder cattle auction sold 4,795 head, with sales reported steady to $5 lower for steers and firm to $5 higher for heifers.
USDA’s National Wholesale Boxed Beef report from this morning shot higher, as the Chc/Sel widened out to $20.65. Choice boxes were up $7.60 at $342.86/cwt, with Select up $2.20 to $322.21. Monday’s Federally inspected cattle slaughter was estimated at 104,000 head by USDA. That was 15,000 head below the previous Monday and down 4,286 head from the same week last year.
Apr 25 Live Cattle are at $209.125, up $1.325,
Jun 25 Live Cattle are at $205.325, up $1.675,
Aug 25 Live Cattle are at $202.150, up $2.125,
Apr 25 Feeder Cattle are at $288.200, up $1.750
May 25 Feeder Cattle are at $287.100, up $2.600
Aug 25 Feeder Cattle are at $292.175, up $2.675
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.