Cattle Mixed on Tuesday Trade

Live cattle futures are mixed so far on Tuesday, with contracts anywhere from 12 cents higher to 45 cents lower. Cash trade settled in last week at $186-188, with most trade hovering at $187. Most action for the week has been muted, with feedyards compiling showlists.

Feeder cattle are continuing to hold strength, up $1.30 to $1.90. The CME Feeder Cattle Index was up 18 cents at $254.72 on November 22. The weekly feeder cattle auction from OKC showed 6,345 head sold on Monday, below last week but above the same week last year. Sales were up $4 to $10 on feeders, with calves up $10-15 and even $20 higher. Demand was noted as good to very good.

Cold Storage data from Monday afternoon showed beef stocks at the end of October at 431.88 million lbs, a 10-year low for the months and a seasonal 4.71% increase from last month.

USDA wholesale Boxed Beef prices were higher in the Tuesday morning report. Choice boxes were up another $3.85 to $313.56/cwt, with Select $4.37 higher @ $278.11. The Chc/Sel spread narrowed to $35.45. USDA estimated the Monday federally inspected cattle slaughter at 120,000 head. That is 2,000 head above the previous Monday but down 4,069 head from the same week last year.

Dec 24 Live Cattle  are at $186.625, up $0.125,

Feb 25 Live Cattle  are at $187.275, down $0.425,

Apr 25 Live Cattle  are at $189.350, down $0.300,

Jan 25 Feeder Cattle  are at $257.375, up $1.900

Mar 25 Feeder Cattle  are at $256.000, up $1.675

Apr 25 Feeder Cattle  are at $256.825, up $1.300

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.