Cattle Close Mixed on Tuesday after Early Gains
Live cattle rounded out Tuesday trade with contracts up 17 cents in the front month April and down 55 cents in June. Futures faded off the early gains into the close as outside factors were in play. There were no deliveries for April live cattle on Tuesday. Cash trade has been slow to develop this week, with early action mostly compiling showlists. Last week’s trade was at $208 in the South, with Northern sales at $212-213.
Feeder cattle futures closed the Tuesday session with April rallying $2.60 on the session and other nearby contracts within 45 cents of unchanged. The CME Feeder Cattle Index was back up 53 cents on Monday, with the average price at $290.53.
USDA’s National Wholesale Boxed Beef prices were Mixed in the Tuesday PM report, as the Chc/Sel narrowed to $16.04. Choice boxes were down $1.40 at $338.10/cwt, with Select $2.76 higher to $322.06. Tuesday’s Federally inspected cattle slaughter was estimated at 122,000 head by the USDA, bringing the weekly total to 226,000 head. That was 1,000 head below the previous week and down 17,810 head from the same week last year.
Apr 25 Live Cattle closed at $199.100, up $0.175,
Jun 25 Live Cattle closed at $193.625, down $0.550,
Aug 25 Live Cattle closed at $190.450, down $0.075,
Apr 25 Feeder Cattle closed at $280.425, up $2.600,
May 25 Feeder Cattle closed at $271.725, up $0.450,
Aug 25 Feeder Cattle closed at $277.600, down $0.450,
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.