Live cattle futures posted losses on Tuesday, with contracts down 35 to 60 cents at the close. Cash trade has yet to get kicked off this week. It found its footing last week at $233 to $236.50 live and $370 dressed. Feeder cattle futures closed with mostly weaker trade on Tuesday, down 50 to 60 cents, with soon to expire January up 15 cents. The CME Feeder Cattle Index was up $1.16 to $364.73 on January 26.
USDA’s wholesale Boxed Beef report from Tuesday afternoon showed weaker prices, with the Chc/Sel spread widening to $2.92. Choice boxes were down 79 cents to $368.11, while Select was $1.93 lower at $365.19. Tuesday’s USDA federally inspected cattle slaughter was estimated at 112,000 head, with the weekly total at 212,000 head. That was 7,000 head below last week and 24,878 head shy of the same week last year.
Feb 26 Live Cattle closed at $235.600, down $0.425,
Apr 26 Live Cattle closed at $237.400, down $0.600,
Jun 26 Live Cattle closed at $233.250, down $0.375,
Jan 26 Feeder Cattle closed at $366.850, up $0.150,
Mar 26 Feeder Cattle closed at $362.000, down $0.600,
Apr 26 Feeder Cattle closed at $360.650, down $0.550,
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.
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