Live cattle futures are showing contracts steady to 75 cents lower on Monday. Cash trade was reported by USDA at $224-225 live last week, with a few leaking towards $220. Feeder cattle futures are trading with gains of 65 cents to $1.07 at midday. The CME Feeder Cattle Index was back down 17 cents on October 29 to $351.26. The weekly OKC feeder cattle auction showed an estimated 4,750 head for sale, with a lower undertone noted early.
CFTC data showed managed money at a net long position of 56,017 contracts as of Tuesday in live cattle futures and options, an increase of 4,874 contracts. CFTC data showed speculators in feeder cattle futures and options adding 2,909 contracts to their net long position as of October 27th to 13,353 contracts.
Wholesale Boxed Beef prices were higher in the Monday AM report, with the Chc/Sel at $10.07. Choice boxes were up 14 cents to $364.80, with Select $2.75 higher to $354.73. USDA estimated Federally inspected cattle slaughter for last week at 543,000 head. That was down 3,000 head from the week prior and 14,322 head below the same week last year.
Dec 26 Live Cattle are at $220.200, down $0.750,
Feb 27 Live Cattle are at $224.150, down $0.050,
Apr 27 Live Cattle are at $226.550, down $0.075,
Nov 26 Feeder Cattle are at $338.425, up $0.650
Jan 27 Feeder Cattle are at $332.600, up $0.825
Mar 27 Feeder Cattle are at $328.350, up $1.075
On the date of publication, Austin Schroeder did not directly have a position 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.