Cattle Reverse Action to Close Mixed on Tuesday
Live cattle were higher early in the Tuesday session but bulls felt queasy by midday. Futures closed down 12 to 90 cents in the nearbys and 32 cents to $1.12 higher out in the 2025 contracts. Cash action was negligible on Monday, with showlists being compiled. Last week’s trade was $183-184 live and $292 dressed in the North, steady to down $1 from the previous week. Southern trade was steady, at $182.
Feeders ignored the stronger corn action and weaker nearby fats, with contracts up 70 cents to $1.10. The CME Feeder Cattle index was up another $1.11 on April 22 to $243.22. The OKC feeder cattle auction saw feeders $4-8 higher this week, with good demand noted.
USDA’s Wholesale Boxed Beef prices were higher in the Tuesday PM report. Choice boxes were $1.47 higher to $297.40, with Select up 89 cents at $292.76. That took the Chc/Sel spread back up to $4.64. USDA estimated cattle slaughter at 125,000 head for Tuesday, taking this week’s total to 238,000 head. That was down 7,000 head from the previous week and 14,284 head below the same week last year.
Apr 24 Live Cattle closed at $183.350, down $0.475,
Jun 24 Live Cattle closed at $177.150, down $0.900,
Aug 24 Live Cattle closed at $175.500, down $0.900,
Apr 24 Feeder Cattle closed at $243.750, up $0.850,
May 24 Feeder Cattle closed at $246.050, up $0.875,
Aug 24 Feeder Cattle closed at $259.400, up $0.925,
On the date of publication, Alan Brugler 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.