Cattle See Monday Strength, with Feeders the Leaders

Live cattle futures were mixed, with front months down a nickel to 32 cents and other contracts up 5 to 30 cents. USDA reported northern dressed sales at $350-355 and $222-227 live. Southern sales were reported at $228. Feeder cattle futures were 80 cents to $2.02 higher on the session. The CME Feeder Cattle Index was back down 9 cents on October 16 to $343.54.

Monday’s Crop Progress report showed the US pasture rating at 23% gd/ex, up 1% on the week. The Brugler500 index was up 6 points at 256.

Wholesale Boxed Beef prices were mixed in the Monday afternoon report, with the Chc/Sel at $11.67. Choice boxes were down 73 cents to $371.58, with Select $6.86 higher to $359.91. USDA estimated Federally inspected cattle slaughter for Monday at 105,000 head. That was 1,000 head below the week prior and 14,726 head below the same week last year. 

Oct 26 Live Cattle  closed at $227.500, down $0.050,

Dec 26 Live Cattle  closed at $228.025, down $0.325,

Feb 27 Live Cattle  closed at $230.925, up $0.050,

Oct 26 Feeder Cattle  closed at $344.425, up $0.800,

Nov 26 Feeder Cattle  closed at $343.925, up $2.025,

Jan 27 Feeder Cattle  closed at $339.925, up $1.650,

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.