Cattle Bulls Taking Back Some Ground, as Beef Shoots Higher
Live cattle futures are posting midday gains of $2.77 to $3.37 so far. Cash trade has yet to get kicked off this week, as last week was light with $245 northern action reported and $235 in the South.
Feeder cattle futures are posting strength on Tuesday, up $4.27 to $5.02 at midday. The CME Feeder Cattle Index was up another $3.87 to $341.04 on August 8. The Monday OKC feeder cattle auction had 5,525 head for sale, with action noted $8 to 12 higher for steers and heavies down $3, with heifers $3-8 higher. Calves were $4 on either side of unchanged.
USDA Wholesale Boxed Beef prices shot higher in the Tuesday morning report, as retailers stock up ahead of the Labor Day run. Choice boxes were up $8.50 at $390.02, while Select was $5.39 higher to $365.00. USDA estimated cattle slaughter for Monday was 103,000 head. That was up just 2,000 head from last week but 7,721 head lower vs. the same week in 2024.
Aug 25 Live Cattle are at $236.000, up $2.925,
Oct 25 Live Cattle are at $229.475, up $3.375,
Dec 25 Live Cattle are at $231.250, up $2.775,
Aug 25 Feeder Cattle are at $344.500, up $4.275
Sep 25 Feeder Cattle are at $345.625, up $5.025
Oct 25 Feeder Cattle are at $344.550, up $4.875
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.