Live cattle futures are trading with $1.10 to $1.55 gains at midday. Cash trade was reported at $208 in the North, down $2-4 from last week. Southern sales are coming in at $206, down $2 from the week prior. Feeder cattle futures are rallying as well, up $2.20 to $2.50. The CME Feeder Cattle Index was down another $2.05 from the day prior at $275.59 on February 6. The Monday OKC weekly feeder cattle auction has an estimated 4,750 head for sales, which is nearly half of last week and down from the same week last year.
Commitment of Traders data showed specs cutting back 6,535 contracts from their previous record net long position in live cattle futures and options to 150,374 contracts as of Tuesday. In feeder cattle, they were net long 28,175 contracts by February 4, a reduction of 704 contracts in that week.
USDA wholesale Boxed Beef prices were back higher in the Monday morning report, with the Chc/Sel spread @ $10.40. Choice boxes were down another $2.21 to $324.08/cwt, with Select $0.78 higher at $313.69. USDA estimated last week’s federally inspected cattle slaughter at 584,000 head. That was 16,000 head below last week and down 33,013 head from the same week last year.
Feb 25 Live Cattle are at $202.000, up $1.225,
Apr 25 Live Cattle are at $198.300, up $1.525,
Jun 25 Live Cattle are at $193.200, up $1.100,
Mar 25 Feeder Cattle are at $267.325, up $2.425
Apr 25 Feeder Cattle are at $267.075, up $2.250
May 25 Feeder Cattle are at $265.850, up $2.250
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.
More news from Barchart
- Cattle Futures Prices Drop from Record Highs, But Bulls May Still Have Legs
- What is Pushing Cattle Prices Higher?
- Cattle and Hogs in Q4 and 2024 - Where are they Heading in 2025?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
