Live cattle futures are back down $1.30 to $1.45 across most front months on Monday. Cash trade has been quiet so far this week, with a few $229 sales reported early in KS, steady to $1 higher than last week. The Tuesday Fed Cattle Exchange showed no sales on the 1,734 head offered, with bids at $225-227.50. Feeder cattle futures are trading with $1.77 to $2.57 at midday. CME’s Feeder Cattle Index was up another 73 cents to $351.91 on December 19.
Export Sales data showed 8,776 MT of beef sold in the week ending on 12/11, back down from the week prior. Export Shipments were 14,930 MT in that week, a 3-week high.
USDA Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel spread narrowing to $7.96. Choice boxes were down $3.04 to $359.83, while Select was $1.18 higher at $351.87. USDA federally inspected cattle slaughter was estimated at 121,000 head for Monday. That was 11,000 head above last Monday and 1,604 head larger than the same week last year.
Dec 25 Live Cattle are at $229.425, down $1.300,
Feb 26 Live Cattle are at $230.000, down $1.425,
Apr 26 Live Cattle are at $229.775, down $1.300,
Jan 26 Feeder Cattle are at $343.925, down $2.575
Mar 26 Feeder Cattle are at $338.475, down $2.025
Apr 26 Feeder Cattle are at $337.225, 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. For more information please view the Barchart Disclosure Policy here.
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