Live cattle futures showed mixed results on Monday, with contracts ending between $1.125 lower and 40 cents higher. Cash trade last week in the South was reported at $246-249, while northern markets saw prices near $249-250. Feeder cattle futures posted gains ranging from 32 cents to $1.75 during the session.
The Chicago Mercantile Exchange Feeder Cattle Index increased by $7.27 to reach $373.94 on April 10, reflecting recent strength in feeder markets. At the Oklahoma City feeder cattle auction on Monday, an estimated 5,000 head were sold; steers traded steady to $5 higher and heifers were up by $10-15, while calves rose steadily by up to $25.
Wholesale Boxed Beef prices also moved higher in Monday afternoon trading, with Choice boxes increasing by $1.02 to reach $381.92 and Select boxes rising by $2.30 to settle at $383.64 per hundredweight—widening the premium of Select over Choice to a difference of $1.72 per hundredweight.
The United States Department of Agriculture estimated federally inspected cattle slaughter at 107,000 head for Monday—an increase of 9,000 head from last week but down by more than 5,500 compared with the same period last year.
In specific contract closings: April live cattle ended at $250.650 (down $1.125), June live cattle closed at $248.525 (down $.675), August live cattle finished at $244.450 (down $.300). On the feeder side: April contracts settled at $374.475 (up $.325), May feeders ended at $372.825 (up $.475), and August feeders closed at $373.325 (up $.875).
Austin Schroeder said he did not hold any positions in securities mentioned in this article as of publication date.
