Nearby August and October delivery cattle futures were fading Monday’s gains on Tuesday, but have turned higher at midday. Overall, prices are up 17 to 67 cents. Heat stress is a concern, with heat index readings as high as 110 projected for today or tomorrow in some feedlot areas. Live cattle futures were $1.67 to $1.95 higher on Monday. Preliminary open interest was up 4,462 contracts on Monday, suggesting new buying interest. Cash trade on Friday saw KS at $230-231 and $240-242 northern action. Activity thus far has been limited to accumulating show lists.
Feeder cattle futures were up $3.50 to $3.70 on Monday. As of midday on Tuesday, they are again trading higher, by $.80 to $1.00. The CME Feeder Cattle Index was back up $3.52 to $325.80 on July 18. Monday’s OKC feeder cattle online auction showed 4,500 head sold, with prices listed $4-8 higher. Feeder heifers were listed steady to $3 lower, with calves up $5-10.
USDA Wholesale Boxed Beef prices were mixed in the Tuesday AM report. Choice boxes were quoted $1.23 higher at $373.30, while Select prices on average dropped $2.32 to $347.73. USDA estimated cattle slaughter for Monday at 105,000 head. That was down 7,000 head from last week and 8,887 head lower vs. the same early week figure in 2024.
Aug 25 Live Cattle are at $225.600, up $0.375,
Oct 25 Live Cattle are at $221.825, up $0.200,
Dec 25 Live Cattle are at $222.400, up $0.650,
Aug 25 Feeder Cattle are at $328.600, up $1.000
Sep 25 Feeder Cattle are at $329.000, up $1.300
Oct 25 Feeder Cattle are at $327.275, up $1.300
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.
