Live cattle futures pulled off early lows to close with contracts up 17 cents in expiring December and down 45 cents to $1 in other contracts. There were 15 deliveries tendered on First Notice day on Monday, with the oldest long dated September 27. Last week’s cash trade was $220-222 early in the north, ending last week near $225. Sothern action was $225-226.50. Feeder cattle futures posted losses of $2.50 to $3.40 on Monday, pulling off lows into the close. The CME Feeder Cattle Index was back down 67 cents to $343.06 on December 5. The Monday OKC feeder cattle auction has an estimated 7,200 head. Sales were noted $6-10 higher on cattle over 800 lbs, with lighter calves under 800 lbs up $15-30
Beef export sales in the week of 11/6 totaled 8,776 MT, a 7-week low. Shipments were tallied at 10,845 MT, a slight improvement from the week prior.
USDA reported Wholesale Boxed Beef prices mixed in the Monday afternoon report, with the Chc/Sel spread narrowing to $12.30. Choice boxes were down 30 cents to $360.90, while Select was down $1.21 at $348.60. USDA federally inspected cattle slaughter was estimated at 115,000 head for Monday. That was even with last week and 3,776 head shy of the same week last year.
Dec 25 Live Cattle closed at $227.325, up $0.175,
Feb 26 Live Cattle closed at $226.675, down $0.475,
Apr 26 Live Cattle closed at $226.700, down $0.975,
Jan 26 Feeder Cattle closed at $335.650, down $3.400,
Mar 26 Feeder Cattle closed at $330.425, down $2.875,
Apr 26 Feeder Cattle closed at $329.725, down $2.500,
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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