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Barchart
Barchart
Austin Schroeder

Cattle Look to New Week After New Hitting New Highs

Live cattle futures shrugged off the early session weakness, as futures posted strength on cash strength to close $2 to $3.45 higher. October rallied back $7.45 last week.  Preliminary open interest was down 2,774 contracts on Friday. There were no deliveries again for October live cattle again on Friday, with the oldest long dated July 31. Cash saw some northern dressed trade at $362, up $2, with live action at $234-235, up $4-5. Southern trade has been tallied at $235. Feeder cattle futures were weaker to start Friday, but rallied to close the session with gains of $1.47 to $2.90. October was up $18.32 last week. The CME Feeder Cattle Index was up another 57 cents at $367.92 on October 9. 

USDA Wholesale Boxed Beef prices were higher in the Friday afternoon report, with the Chc/Sel spread at $19.18. Choice boxes were up 35 cents to $365.57, while Select was $2.06 higher at $346.39. USDA federally inspected cattle slaughter for last week was estimated to total 547,000 head. That is 15,000 head below last week and 38,337 shy of the same week last year. 

 

Oct 25 Live Cattle  closed at $238.475, up $3.450,

Dec 25 Live Cattle  closed at $242.525, up $2.625,

Feb 26 Live Cattle  closed at $245.400, up $2.000,

Oct 25 Feeder Cattle  closed at $375.500, up $1.475,

Nov 25 Feeder Cattle  closed at $375.900, up $1.850,

Jan 26 Feeder Cattle  closed at $371.950, up $2.900,

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