Live cattle futures are trading with 55 cent to $2 gains at the midday portion of Monday. Today is first notice day for October live cattle. Cash trade settled in at $230 in the North last week with Southern trade at $233. Feeder cattle futures are leading the bull charge so far on Monday, up $4.50 to $4.825. The CME Feeder Cattle Index was back up $0.94 at $362.57 on October 2. The weekly OKC feeder cattle auction has an estimated 5,500 head for sale, with a steady undertone noted so far.
USDA Wholesale Boxed Beef prices were higher in the Monday morning report, with the Chc/Sel spread narrowing to $15.60. Choice boxes were up 66 cents at $362.77, while Select was $1.95 higher to $347.33. USDA federally inspected cattle slaughter for last week was estimated at 557,000 head. That was 2,000 head above last week but 54,571 below the same week last year.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Oct 25 Live Cattle are at $231.575, up $0.550,
Dec 25 Live Cattle are at $235.775, up $1.275,
Feb 26 Live Cattle are at $238.650, up $1.825,
Oct 25 Feeder Cattle are at $361.675, up $4.500
Nov 25 Feeder Cattle are at $360.250, up $4.825
Jan 26 Feeder Cattle are at $354.475, up $4.750
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. 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.
