Live cattle futures experienced significant gains on Monday, rising 35 cents to $2.22, building on last week's cash cattle trade which closed $2-$5 higher at $234-$235. Feeder cattle futures also advanced, up to $3.17, with the CME Feeder Cattle Index increasing by $1.08 to $369.00 and OKC auction prices seeing substantial increases of $10-$40 across various categories. Despite mixed USDA Wholesale Boxed Beef prices, the broader cattle market demonstrated continued upward momentum.
Live cattle futures demonstrated robust strength on Monday, with gains ranging from 35 cents to $2.22 across contracts, including Oct 25 Live Cattle closing up $2.100 at $240.575. This follows a strong cash cattle trade last week, which saw prices close $2-5 higher at $234-235 in various regions. Feeder cattle futures also advanced, with the CME Feeder Cattle Index rising $1.08 to $369.00, reflecting broad market optimism. Significant price increases were observed at the OKC feeder cattle auction, with feeder steers up $10-20 and calves up $20-30, indicating strong demand for young cattle. Concurrently, USDA federally inspected cattle slaughter for Monday was estimated at 106,000 head, which is 13,682 head below the same Monday last year. This suggests a tightening supply dynamic contributing to the upward price pressure in the live and feeder cattle markets. While USDA Wholesale Boxed Beef prices were mixed, with Choice down $1.66 and Select up $3.36, the overall sentiment remains strongly bullish for the cattle complex. The persistent strength in futures, cash, and auction prices, coupled with reduced year-over-year slaughter rates, points to continued upward momentum. The Chc/Sel spread at $14.16 indicates a preference for higher-grade beef, even with Choice prices slightly declining.
AI-powered research, real-time alerts, and portfolio analytics for institutional investors.
Request a DemoOverall Sentiment
strongly positive
Sentiment Score
0.85
Ticker Sentiment
