Live cattle futures are up 15 to 75 cents across the front months on Monday. Cash activity saw sales of $242-243 last week, steady to $1 higher in the South and $2-3 weaker in the North. Feeder cattle futures are working higher after some early back and forth, with midday gains of $1.42 to $2.07. The CME Feeder Cattle Index was back up $2.61 at $363.96 on September 4. The Monday OKC feeder cattle auction showed 9,400 head offered, ahead of the previous sale due to last week’s holiday but down from last year.
The Friday afternoon Commitment of Traders report showed managed money increasing their net long in live cattle futures and options by 4,290 contracts to 130,442 contracts by Tuesday. As of September 2, spec funds trimmed 2,205 contracts from their large net long position to 28,375 contracts. That is the lowest net long position since April.
USDA Wholesale Boxed Beef prices were higher in the Monday AM report, with the Chc/Sel spread at $24.11. Choice boxes were up 82 cents at $411.58, while Select was $2.28 higher to $387.47. USDA estimated cattle slaughter for last week at 487,000 head. That was well below last week due to the Monday holiday and 60,805 head lower vs. the same week in 2024.
Oct 25 Live Cattle are at $236.125, up $0.150,
Dec 25 Live Cattle are at $237.825, up $0.375,
Feb 26 Live Cattle are at $239.425, up $0.750,
Sep 25 Feeder Cattle are at $361.250, up $1.425
Oct 25 Feeder Cattle are at $359.825, up $1.925
Nov 25 Feeder Cattle are at $358.225, up $2.075
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.
