Live cattle futures are up $1.50 to $2.12 so far at Monday’s midday. Cash trade settled in at $238-240 in the north last week, with Southern trade at $237-238. Feeder cattle futures are $3.87 to $4.75 higher across the front months at midday. The CME Feeder Cattle Index was down another $1.49 on July 16 to $364.03.
The Friday Commitment of Traders report showed managed money cutting back another 16,997 contracts from their net long in live cattle futures and options to 96,324 contracts as of Tuesday. In feeder cattle futures and options spec funds were busy slashing another 3,810 contracts from the net long as of July 14 to 9,880 contracts.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.Wholesale Boxed Beef prices were quoted higher in the Monday AM report. Choice boxes were $2.51 higher at $369.32, with Select up 76 cents to $356.05. USDA’s Federally inspected cattle slaughter for the week totaled 525,000 head through Saturday. That is down 4,000 head from the previous week and 42,470 head below the same week last year.
Aug 26 Live Cattle are at $226.175, up $1.750,
Oct 26 Live Cattle are at $222.825, up $2.125,
Dec 26 Live Cattle are at $222.500, up $1.975,
Aug 26 Feeder Cattle are at $349.825, up $3.875
Sep 26 Feeder Cattle are at $344.100, up $4.750
Oct 26 Feeder Cattle are at $337.200, up $4.375
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.- There’s a Trainwreck Happening in Cattle Prices. Here’s What You Need to Watch This Week.
- Cattle Prices Are Trapped in Downtrends as Energy Prices Spike on U.S.-Iran Volatility
- Get Ready for Cattle Prices to Keep Falling as Crude Oil Pops Higher
- Lean Hog Prices Are Sizzling Higher as Cattle Prices Flag Risk of Collapse
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.