Live cattle futures are trading with Monday midday losses of $1.92 to $2.95. Cash trade was limited, with some $246-248 in the North and some southern trade up to $249. Feeder cattle futures are down $3.65 to $4.30 across most contracts. The CME Feeder Cattle Index was up 44 cents to $377.37 on February 19. The weekly OKC feeder cattle online auction has 6,500 head for sale, with early action reported steady.
Commitment of Traders data showed a total of 8,083 contracts added to the net long position in live cattle futures and option, to 116,717 contracts. In feeder cattle futures and options, managed money added another 644 contracts to their net long to 16,806 contracts.
Cattle on Feed data from Friday afternoon showed 1.736 million head of feeders placed in January, down 4.72% from a year ago and below estimates. Marketings in January were down 13% at 1.626 million head. February 1 on feed totaled 11.505 million head, a drop of 1.8% from last year and below the 1.6% estimated decline.
Wholesale Boxed Beef prices were higher in the Monday morning report, with the Chc/Sel spread widening to $4.15. Choice boxes were up $1.28 to $367.98, while Select was $3.09 higher to $363.83. USDA estimated last week’s federally inspected cattle slaughter at 516,000 head. That is 25,000 head above last week and 48,737 head below the same week last year.
Feb 26 Live Cattle are at $244.650, down $1.925,
Apr 26 Live Cattle are at $239.050, down $2.950,
Jun 26 Live Cattle are at $235.125, down $2.400,
Mar 26 Feeder Cattle are at $363.900, down $4.125
Apr 26 Feeder Cattle are at $360.775, down $4.275
May 26 Feeder Cattle are at $357.350, down $3.650
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.
