Live cattle futures are up $3.50 to $3.72 across most contracts so far on Tuesday. Cash trade has been quiet this week, as last week picked up to $235-236 in the South and Northern trade reported at $247.
Feeder cattle futures are rallying $6.10 to 6.20 across the front months on Tuesday. The CME Feeder Cattle Index was back down 7 cents to $335.82 on August 1. The Monday OKC feeder cattle auction showed an estimated 5,926 head sold, with price action steady and heavy weight steers and heifers down $3.
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Beef export data from Census and converted to a carcass basis was tallied at 217.03 million lbs for June. That was the lowest export total for any month since June 2020.
USDA Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel spread at $24.39. Choice boxes were up $4.61 at $370.40, while Select was $4.42 higher to $346.01. USDA estimated cattle slaughter for Monday at 101,000 head. That was down 7,000 head from last week and 15,979 head lower vs. the same week in 2024.
Aug 25 Live Cattle are at $234.625, up $3.725,
Oct 25 Live Cattle are at $227.600, up $3.500,
Dec 25 Live Cattle are at $228.500, up $3.500,
Aug 25 Feeder Cattle are at $341.600, up $6.200
Sep 25 Feeder Cattle are at $340.550, up $6.100
Oct 25 Feeder Cattle are at $338.525, up $6.125
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
