Cattle Bulls Continuing Strength, as Beef Pushes Past $400
Live cattle futures are down 17 cents to 62 cents higher across most contracts on Monday. Cash trade was mostly steady last week, with light dressed trade at $384-386 in the North and live action at $243-245. Southern sales were picked up at $235-237. Feeder cattle futures are trading with $1.42 to $2.42 gains across most contracts on Monday. The CME Feeder Cattle Index was back down 26 cents to $345.75 on August 14. The Monday OKC feeder cattle auction shows an estimates 5,500 head for sale, with early sales listed as steady.
Commitment of Traders data showed spec funds trimming 752 contracts from their net long position as of Tuesday to 124,813 contracts. In feeder cattle, managed money cut a total of 3,542 contracts from their net long to 33,537 contracts.
USDA Wholesale Boxed Beef prices were higher on Monday morning, with the Chc/Sel spread narrowing to $26.57. Choice boxes were up $3.57 at $404.14, while Select was $6.81 higher to $377.57. USDA estimated cattle slaughter for the week at 528,000 head. That was down just 7,000 head from last week and 67,484 head lower vs. the same week in 2024.
Aug 25 Live Cattle are at $236.075, down $0.175,
Oct 25 Live Cattle are at $230.875, up $0.225,
Dec 25 Live Cattle are at $232.800, up $0.625,
Aug 25 Feeder Cattle are at $347.575, up $1.425
Sep 25 Feeder Cattle are at $349.100, up $1.750
Oct 25 Feeder Cattle are at $348.325, up $2.425
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.