Live cattle futures are kicking off Monday with losses of $2.47 to $3.12. Cash trade from last week started at $250-252 across the country and worked up to $256-257. Feeder cattle futures are falling $6.07 to $7.50 at midday. The CME Feeder Cattle Index was up $1.56 to $374.03 on April 30. The weekly OKC feeder cattle auction has an estimated 7,000 head for sale.
Managed money increased their net long in live cattle futures and options by 1,796 contracts in the week ending on April 28, taking it to 136,591 contracts. In feeder cattle futures/options spec funds cut back 1,676 contracts from their net long to 17,089 contracts.
Wholesale Boxed Beef prices were higher in the Monday morning report, with the Chc/Sel at $2.77. Choice boxes were up $2.54 to $390.65, while Select was $1.83 higher at $388.88. USDA estimated federally inspected cattle slaughter for last week at 534,000 head. That is up 5,000 head from last week and 28,668 head below the same week last year.
Jun 26 Live Cattle are at $250.525, down $2.475,
Aug 26 Live Cattle are at $245.025, down $2.800,
Oct 26 Live Cattle are at $239.325, down $3.125,
May 26 Feeder Cattle are at $365.325, down $6.075
Aug 26 Feeder Cattle are at $365.000, down $7.175
Sep 26 Feeder Cattle are at $363.275, down $7.425
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.
