Cattle Mixed on Monday

Live cattle futures are trading with 17 cent losses in the October contract, as others are up 50 to 75 cents. There were 10 deliveries issued against October futures on Friday for the West Point, NE location. Cash sales were reported in the north at $187-188 last week, even to $1 higher vs. last week. Southern sales hit $186-187 on Thursday, steady to up $1 on the week.

Feeder cattle futures are mixed on Monday, with October down a quarter and other contracts up 35 to 75 cents. The CME Feeder Cattle Index was up 53 cents at $250.05 on October 10. Monday’s OKC feeder cattle auction has an estimated 7,200 head for sale, which would be well above last week and slightly above the same week last year, early demand has been listed as moderate.

Commitment of Traders data from CFTC showed specs adding 13,622 contracts to their net long in live cattle futures and options, at 77,026 contracts as of October 8. In feeder cattle futures and options, they added 2,003 contracts to their net long to 7,704 contracts by Tuesday.

USDA wholesale Boxed Beef prices were higher in the Monday morning report. Choice boxes were up $1.59 to $312.81/cwt, with Select $1.73 lower @ $290.45. The Chc/Select spread narrowed to $22.36. USDA estimated last week’s federally inspected cattle slaughter at 586,000 head through Saturday. That is 25,000 head below the previous week and down 30,259 head from the week last year.

Oct 24 Live Cattle  are at $188.425, down $0.175,

Dec 24 Live Cattle  are at $188.075, up $0.500,

Feb 25 Live Cattle  are at $188.800, up $0.600,

Oct 24 Feeder Cattle  are at $249.500, down $0.250

Nov 24 Feeder Cattle  are at $250.175, up $0.375

Jan 25 Feeder Cattle  are at $247.975, up $0.725

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.