Cattle Make Gains at the Beginning of the Week

Cattle Market Update: Gains Across Live and Feeder Contracts

On Tuesday, front-month live cattle futures advanced between 22 cents and $1. Cash transactions this week have been limited, with a handful of cattle changing hands at $232. Feeder cattle futures also finished higher, climbing from 70 cents up to $1.55 by the market close. The CME Feeder Cattle Index fell by $1.26, settling at $367.68 as of January 19. At the Oklahoma City feeder cattle auction on Monday, 9,551 head were sold, with prices reported as steady to $4 lower for feeder cattle.

The USDA’s Tuesday afternoon report showed an increase in wholesale boxed beef values, with the Choice-Select spread expanding to $4.92. Choice boxed beef rose by 43 cents to $364.76, while Select boxes slipped by 49 cents to $359.84. The USDA estimated Tuesday’s federally inspected cattle slaughter at 114,000 head, bringing the weekly total to 219,000. This figure is 16,000 head below last week and 15,837 fewer than the same period a year ago.

Closing Prices for Key Cattle Contracts

• February 26 Live Cattle settled at $232.375, up $0.225
• April 26 Live Cattle ended at $234.575, up $0.600
• June 26 Live Cattle closed at $230.600, up $1.000
• January 26 Feeder Cattle finished at $362.625, up $0.700
• March 26 Feeder Cattle ended at $357.675, up $1.225
• April 26 Feeder Cattle settled at $356.450, up $1.550