Cattle Rallying on Stronger Cash Market

Single cow with number tag in ear by Mabel Amber, who will one day via Pixabay

Live cattle futures are trading with $1.62 to $2.30 gains on Friday.  Cash trade started slow this week, but got kicked off just before noon on Friday, with bids of $183-184 and some norther sales of $290 in the beef. Feeder cattle futures are mixed, with September down 35 cents and other contracts 80 cents to $1.30 higher. The CME Feeder Cattle Index was back up 1.03 at $244.42 on September 18. 

This afternoon’s Cattle on Feed report is expected to show August placements down 1% from a year ago, with August marketings dropping 3.4% according to a Reuters survey of analysts. September 1 on feed estimates are running up 0.9% from 2023.

USDA wholesale Boxed Beef prices back higher in the Friday AM report. Choice boxes were back up $1.11 to claw back above the $300 level to $300.67/cwt, with Select $1.33 higher @ $289.59. The Chc/Select spread narrowed to $11.08. USDA estimated Thursday’s federally inspected cattle slaughter at 122,000 head, taking the weekly total to 493,000 head. That is 8,000 head above the previous week and 6,588 head below the same week last year.

Oct 24 Live Cattle  are at $182.250, up $2.275,

Dec 24 Live Cattle  are at $183.325, up $2.200,

Feb 25 Live Cattle  are at $183.975, up $1.625,

Sep 24 Feeder Cattle  are at $244.925, down $0.350

Oct 24 Feeder Cattle  are at $244.575, up $0.800

Nov 24 Feeder Cattle  are at $242.625, up $1.275


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.