Live cattle futures were mixed Monday—nearby December ticked up $0.17 while other contracts closed lower—while feeder cattle futures slid $2.50–$3.40; open interest fell about 2,017 contracts in live cattle and rose 1,398 in feeders. Cash markets last week showed northern deals around $220–$225 and southern $225–$226.50, Oklahoma City auction receipts (estimated 7,200 head) saw heavier cattle up $6–$10 and lighter calves under 800 lbs up $15–$30, even as the CME Feeder Index eased to $343.06. Beef export sales hit a seven-week low at 8,776 MT and wholesale boxed beef prices softened (Choice $360.90, Select $348.60, Ch/Sl spread $12.30), while federally inspected slaughter was steady at about 115,000 head — a mixed signal that leaves upside in cash and certain feeder segments but suggests demand-side and export pressures could cap broader futures rallies.
Live cattle futures showed a mixed session, with nearby December up $0.17 and other contracts down $0.45 to $1; open interest in live cattle fell by 2,017 contracts while feeder cattle futures lost $2.50–$3.40 as open interest in feeders rose 1,398 contracts. The CME Feeder Cattle Index eased $0.67 to $343.06 on Dec. 5, and listed contract settlements included Dec 25 live cattle at 227.325 (up $0.175) and Jan 26 feeder cattle at 335.650 (down $3.40), indicating short-term weakness in paper feeder exposure versus mixed live cattle positioning. Physical-market prints show pockets of strength: last week northern cash trades ranged $220–$225, southern $225–$226.50, and the Monday OKC auction (estimated 7,200 head) saw cattle over 800 lbs up $6–$10 and calves under 800 lbs up $15–$30, signaling demand for specific weight classes despite modest futures weakness. USDA-estimated federally inspected slaughter was steady at ~115,000 head, roughly 3,776 head below the same week a year ago, and 15 deliveries were tendered on First Notice Day with the oldest long dated Sept. 27. Demand-side indicators are softer: beef export sales for the week of 11/6 fell to 8,776 MT (a seven-week low) with shipments of 10,845 MT, and boxed beef weakened (Choice $360.90, down $0.30; Select $348.60, down $1.21) with the Choice/Select spread at $12.30. These mixed signals—localized cash strength versus weaker export demand and softer boxed prices—suggest upside in select physical and feeder segments but a capped, volatile outlook for broader futures absent a recovery in exports or boxed-beef demand.
AI-powered research, real-time alerts, and portfolio analytics for institutional investors.
Overall Sentiment
mildly negative
Sentiment Score
-0.22
Ticker Sentiment
