Live cattle futures closed the Friday session with contracts $3.90 to $4.50 lower. February was $1.57 lower last week. Cash trade last week centered in the $233 range across the South and $232-235 for the North. Feeder cattle gave back much of the strength from last week, as contracts were down $6.50 to $8.10 on Friday. January was still up $1.20 last week. The CME Feeder Cattle Index was up 73 cents to $370.15 on January 15.
CFTC data showed managed money increasing their net long in live cattle futures and options by 6,555 contracts to 101,316 contracts as of January 13. In feeder cattle futures & options, specs were trimming their net long by 530 contracts to 16,308 contracts.
USDA Wholesale Boxed Beef prices were higher in the Monday afternoon report, with the Chc/Sel spread widening out to $4.00. Choice boxes were up $1.95 to $364.33, while Select was 14 cents higher at $360.33. Monday’s USDA federally inspected cattle slaughter was estimated at 105,000 head. That was 9,000 head below last Monday and 7,839 head shy of the same Monday last year.
Feb 26 Live Cattle closed at $232.150, down $3.900,
Apr 26 Live Cattle closed at $233.975, down $4.450,
Jun 26 Live Cattle closed at $229.600, down $4.300,
Jan 26 Feeder Cattle closed at $361.925, down $6.500,
Mar 26 Feeder Cattle closed at $356.450, down $8.100,
Apr 26 Feeder Cattle closed at $354.900, down $8.025,
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.
