Live cattle futures were $2 to $2.75 higher to close out Friday, as August expired up $4.90 at 241.90. October fats closed the week with a gain of $1.775. Cash trade came in this week on a steady basis in the North at $245 in the north, with $242 in the South, up $2. Friday morning’s Fed Cattle Exchange online auction showed sales on 430 head of 1,220 listed at $242. Feeder cattle futures rallied to close out Friday with $2.95 to $3.60 gains, as September managed a $2.10 gain on the week. The CME Feeder Cattle Index was up another 15 cents to $365.38 on August 28. The market will be closed on Monday due to the Labor Day holiday, with a normal open for the Tuesday session.
Managed money increased their net long position in live cattle futures and options by 1,633 contracts as of Tuesday to 126,152 contracts. Feeder cattle saw some long liquidation as of August 26th, with their net long down 2,576 contracts two 30,580 contracts.
USDA Wholesale Boxed Beef prices were higher in the Friday afternoon report, with the Chc/Sel spread at $28.41. Choice boxes were up $1.00 at $415.14, while Select was $4.16 higher to $390.00. USDA estimated cattle slaughter for this week was 565,000 head. That was up 14,000 head from last week but 51,790 head lower vs. the same week in 2024.
Aug 25 Live Cattle closed at $241.900, up $4.900,
Oct 25 Live Cattle closed at $239.650, up $2.725,
Dec 25 Live Cattle closed at $240.775, up $2.175,
Sep 25 Feeder Cattle closed at $364.775, up $2.975,
Oct 25 Feeder Cattle closed at $364.475, up $2.950,
Nov 25 Feeder Cattle closed at $363.600, up $3.575,
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.
