Cattle Mostly Higher to Start the Week

Live cattle futures are mixed at midday, with contracts a dime lower to 35 cents higher. USDA reported northern dressed sales at $350-355 and $222-227 live. Southern sales were reported at $228.. Feeder cattle futures are trading with gains of $1.20 to $1.80 across most contracts on Monday. The CME Feeder Cattle Index was another 90 cents higher on October 15 to $343.54. 

Friday’s Commitment of Traders report from CFTC showed managed money trimming 2,172 contracts from their net long in live cattle futures and options in the week of 10/13, taking it to 47,748 contracts. In feeder cattle futures and options, specs added a modest 65 contracts to their net long as of Tuesday at 8,852 contracts.

Wholesale Boxed Beef prices were mixed in the Monday morning report, with the Chc/Sel at $10.69. Choice boxes were down 57 cents to $371.74, with Select $8 higher to $361.05. USDA estimated Federally inspected cattle slaughter for last week at 553,000 head through Saturday. That is now up just 2,000 from the week prior but 26,191 head below the same week last year. 

Oct 26 Live Cattle  are at $227.825, up $0.275,

Dec 26 Live Cattle  are at $228.250, down $0.100,

Feb 27 Live Cattle  are at $231.225, up $0.350,

Oct 26 Feeder Cattle  are at $344.850, up $1.225

Nov 26 Feeder Cattle  are at $343.700, up $1.800

Jan 27 Feeder Cattle  are at $339.475, up $1.200

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.