Cattle Extends to New All Time Highs on Monday
Live cattle futures posted Monday gains of 35 to 70 cents on Monday. Today was first notice day for June live cattle, with no deliveries issued. Cash trade last week saw wide ranges mostly $225-232 in the South and topping near $235. North action was mostly $240-242, reaching $244 in some spots.
Feeder cattle futures were up $1.47 to $1.57 at the close. The CME Feeder Cattle Index was up $4.30 on June 6 with an average price of $310.46. There was 4,293 head for sale in Monday’s OKC feeder cattle auction, with action for feeders $5-10 higher.
USDA’s National Wholesale Boxed Beef prices were higher on Monday afternoon, narrowing the Chc/Sel spread to $8.32. Choice boxes were back up $2.17 at $367.25, while Select was quoted $2.20 higher at $358.93/cwt. USDA’s Federally inspected cattle slaughter for Monday was estimated at 115,000 head. That is even with last week but down 7,172 head from the same week last year.
Jun 25 Live Cattle closed at $227.000, up $0.700,
Aug 25 Live Cattle closed at $219.250, up $0.375,
Oct 25 Live Cattle closed at $215.875, up $0.350,
Aug 25 Feeder Cattle closed at $311.650, up $1.500,
Sep 25 Feeder Cattle closed at $310.700, up $1.575,
Oct 25 Feeder Cattle closed at $308.375, up $1.475,
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.