Cattle Strength Continuing on Monday

Live cattle are up 67 cents to $1.25 in the front months on Monday. Cash trade was strong last week, kicking off across the country at $203 in the South, with Northern action at $205-206. 

Feeder cattle are up $1.65 to $2.15 across the front months on midday. The CME Feeder Cattle Index was back up $1.47 on March 13, with the average price at $282.72. The weekly OKC feeder cattle auction has an estimated 7,800 head for sale, above the same week last year and the previous week, with early sales noted as firm.

The Friday afternoon Commitment of Traders report indicated a total of 2,348 contracts added to the managed money net long in live cattle futures and options at 112,816 contracts as of Tuesday. For spec funds in feeder cattle, they were back at a net long of 30,184 contracts by March 11, a 1,304 contract increase on the week,

USDA’s National Wholesale Boxed Beef report from Monday morning was back higher, as the Chc/Sel widened to $16.39. Choice boxes were up $6.19 at $324.46/cwt, with Select $1.75 higher at $308.07. Last week’s Federally inspected cattle slaughter was estimated at 587,000 head. That is 9,000 head above the previous week but 10,391 below the same week last year.

Apr 25 Live Cattle  are at $204.075, up $0.900,

Jun 25 Live Cattle  are at $200.025, up $0.675,

Aug 25 Live Cattle  are at $197.950, up $1.250,

Mar 25 Feeder Cattle  are at $283.625, up $1.650

Apr 25 Feeder Cattle  are at $283.350, up $2.150

May 25 Feeder Cattle  are at $284.475, up $1.825