Cattle Rallies Back on Thursday as Cash Strength Continues
Live cattle futures posted gains of $1.60 to $2.075. Cash trade showed sales at $221-223 in the South on Thursday, with business at $234-235 in the North. Thursday morning’s Fed Cattle Exchange online auction showed sales at $222-225.50 on 773 of the 1,546 head offered. Feeder cattle futures got a Thursday bouncing back, up $4.25 to $4.40. The CME Feeder Cattle Index was back up $1.91 on May 28 with an average price of $297.75.
Following a federal trade court ruling that President Trump’s liberation day tariffs were illegal, an appeals court issued a temporary stay on the ruling.
USDA’s National Wholesale Boxed Beef report was higher on Thursday afternoon, with the Chc/Sel spread at $12.45. Choice boxes were up 67 cents at $366.09, while Select was quoted $1.90 higher at $353.64/cwt. USDA’s Federally inspected cattle slaughter for Thursday was 120,000 head, with the weekly total at 355,000 head. That is down 18,778 head from the same holiday week last year.
Jun 25 Live Cattle closed at $215.525, up $1.600,
Aug 25 Live Cattle closed at $210.075, up $1.900,
Oct 25 Live Cattle closed at $208.150, up $2.075,
Aug 25 Feeder Cattle closed at $299.925, up $4.300,
Sep 25 Feeder Cattle closed at $298.850, up $4.375,
Oct 25 Feeder Cattle closed at $296.775, up $4.250,
On the date of publication, Austin Schroeder 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.