Live cattle futures posted Monday front month gains of $2.12 to $2.25. Cash trade has yet to be reported this week, with last week at $225-227 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 down $1.84 to $341.89 on November 14. The weekly OKC feeder cattle auction has an estimated 7,000 head sold, with sales listed as steady.
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 PM report, narrowing the Chc/Sel spread to $14.11. Choice boxes were down 32 cents to $370.41, while Select was $2.06 higher at $356.30. USDA federally inspected cattle slaughter for Monday is estimated at 116,000 head. That is 3,000 head above last Monday but 6,504 head below the same Monday last year.
Dec 25 Live Cattle closed at $221.275, up $2.125,
Feb 26 Live Cattle closed at $221.775, up $2.250,
Apr 26 Live Cattle closed at $221.825, up $2.250,
Nov 25 Feeder Cattle closed at $339.850, up $1.175,
Jan 26 Feeder Cattle closed at $326.275, up $5.725,
Mar 26 Feeder Cattle closed at $318.550, up $5.200,
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.
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