Live cattle futures are $1.40 to $1.70 at midday. Cash trade was reported at $225-227 last week across the country, with a few at $228 in the South. Some late Northern sales were $218-222. Feeder cattle futures are up $1.35 to $4.65 at midday. The CME Feeder Cattle Index was back up $1.31 to $343.73 on November 13. The weekly OKC feeder cattle auction has an estimated 7,000 head for sale, with early demand noted as good.
On Friday, the White House cut back the tariffs on several food import items, specifically beef among others, though Brazil still has a 40% tariff.
USDA Wholesale Boxed Beef prices were mixed in the Monday AM report, narrowing the Chc/Sel spread to $15.02. Choice boxes were down 74 cents to $369.99, while Select was 73 cents higher at $354.97. USDA federally inspected cattle slaughter for last week at 576,000. That is 16,000 head above last week and 32,810 head below the same week last year.
Dec 25 Live Cattle are at $220.550, up $1.400,
Feb 26 Live Cattle are at $221.000, up $1.475,
Apr 26 Live Cattle are at $221.200, up $1.625,
Nov 25 Feeder Cattle are at $340.050, up $1.375
Jan 26 Feeder Cattle are at $325.200, up $4.650
Mar 26 Feeder Cattle are at $317.400, up $4.050
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.
