Cattle Posting Mixed Midday Trade on Monday

Live cattle futures are showing 25 to 35 cent gains in the nearbys on Monday. Cash trade rounded out last week with sales of $184-185 in the South, up $1-2 on the week. Northern sales were in a range of $186-187. Feeder cattle futures are down 77 cents to $1. The CME Feeder Cattle Index was back up $1.33 at $245.53 on September 26. The weekly OKC Feeder Catte auction is estimated to have 6,200 head for sale today, above last year but slightly below last year. Early demand has been noted as good, with not enough sales yet to establish a trend. 

CFTC data via the Commitment of Traders report tallied managed money adding 13,896 contracts to their net long position as of 9/24 to 52,224 contracts. In Feeder cattle, they added 2,106 contracts to a new net long of 2,027 contracts by Tuesday.

USDA wholesale Boxed Beef prices were back higher in the Monday AM report. Choice boxes were up 78 cents to $297.47/cwt, with Select $1.18 higher @ $283.26. The Chc/Select spread narrowed to $14.21. USDA estimated last week’s federally inspected cattle slaughter at 612,000 head. That is 2,000 head above the previous week and 318 head larger than the same week last year.

Oct 24 Live Cattle  are at $184.025, up $0.275,

Dec 24 Live Cattle  are at $184.800, up $0.325,

Feb 25 Live Cattle  are at $185.875, up $0.325,

Oct 24 Feeder Cattle  are at $246.275, down $0.800

Nov 24 Feeder Cattle  are at $244.925, down $0.775

Jan 25 Feeder Cattle  are at $238.625, down $0.975