Live cattle futures are trading with contracts $2.85 to $4.17 higher. Cash trade has yet to get kicked off this week, following last week’s live northern sales at $220-222 and southern trade reported at $226. Feeder cattle futures are trading with gains of $4.55 to $7.05 across the front months. The CME Feeder Cattle Index was 92 cents higher on October 2 to $337.76. The weekly OKC feeder cattle auction showed sales on 4,242 head on Monday, with sales $2-8 lower on feeder steers and steady on heifers. Calves were steady for steers, with heifers $5-10 higher.
Monday’s Crop Progress report showed the US pasture rating at 23% gd/ex, up 4% on the week. The Brugler500 index was back up 9 points to 257.
Monthly export data from Census showed 197.77 million lbs of beef exported in August, up 3.6% from a yar ago but down 0.6% from July.
Wholesale Boxed Beef prices were higher in the Tuesday morning report, with the Chc/Sel at $21.84. Choice boxes were up $4.20 at $382.46, with Select $2.05 higher to $360.62. USDA estimated Federally inspected cattle slaughter for Monday at 105,000 head. That was up 10,000 from the Monday prior and 4,498 head above the same week last year.
Oct 26 Live Cattle are at $220.100, up $2.850,
Dec 26 Live Cattle are at $223.175, up $3.200,
Feb 27 Live Cattle are at $226.225, up $4.175,
Oct 26 Feeder Cattle are at $338.400, up $4.550
Nov 26 Feeder Cattle are at $335.950, up $5.825
Jan 27 Feeder Cattle are at $329.650, up $7.050
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.