Cattle Fall to Start the Week

Live cattle futures saw losses of.$1.37 to 2. Cash trade improved late last week with $220 in the South on Friday, with some northern trade at $215, up from the $208-210 seen in the first half of the week. Feeder cattle futures were down $1 to $2.90 across most contracts at midday The CME Feeder Cattle Index was up 94 cents to $319.70 on November 28. Monday’s OKC auction had an estimated 4,500 head sold with feeders steers up $8-15 and heifers up $15-25. Calves were $20-30 higher.

Export Sales data showed 10,886 MT of beef sold in the week of 10/23, a 5-week low. Shipments came in at 12,684 MT, back down from the week prior.

USDA reported Wholesale Boxed Beef prices higher in the Friday PM report, with the Chc/Sel spread narrowing to $11.01. Choice boxes were up $2.07 to $368.89, while Select was $6.83 higher at $357.88. USDA federally inspected cattle slaughter was estimated at 115,000 head for Monday. That was 5,000 head below last week and 1,388 head shy of the same week last year.

Dec 25 Live Cattle  closed at $214.200, down $1.375,

Feb 26 Live Cattle  closed at $215.925, down $1.925,

Apr 26 Live Cattle  closed at $217.550, down $2.000,

Jan 26 Feeder Cattle  closed at $321.075, down $2.900,

Mar 26 Feeder Cattle  closed at $315.525, down $2.325,

Apr 26 Feeder Cattle  closed at $314.850, down $1.775,

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. This article was originally published on Barchart.com