Live cattle futures were in rally mode on Tuesday, with contracts up $2 to $3 on the session. Open interest was up 1,398 contracts. Cash trade has yet to get fully kicked off this week, as last week was $232-233 across the country. Feeder cattle futures posted gains of $4.22 to $6.15 across the nearbys on Tuesday. OI rose 1,775 contracts. The CME Feeder Cattle Index was back up 56 cents to $369.12 on January 12.
USDA Wholesale Boxed Beef prices were mixed in the Tuesday afternoon report, with the Chc/Sel spread widening back out to 81 cents. Choice boxes were up 88 cents to $357.99, while Select was 87 cents lower at $357.18. Tuesday’s USDA federally inspected cattle slaughter was estimated at 118,000 head, taking the week to date total to 232,000. That was 1,000 head below last week and 8,688 shy of the same week last year.
Feb 26 Live Cattle closed at $237.250, up $2.000,
Apr 26 Live Cattle closed at $238.975, up $2.900,
Jun 26 Live Cattle closed at $233.400, up $2.800,
Jan 26 Feeder Cattle closed at $366.275, up $4.225,
Mar 26 Feeder Cattle closed at $362.125, up $5.950,
Apr 26 Feeder Cattle closed at $360.600, up $6.150,
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
