Live cattle futures were up $4.25 to $4.90 to close out the Tuesday session. Cash trade has yet to take place this week. Last week was $220 in the South, with some northern trade at $208-210. Feeder cattle futures rallied on Tuesday with gains of $8.40 to $8.80 in the nearbys. The CME Feeder Cattle Index was up $12.66 to $332.36 on December 1.
Updated CFTC data for the week of October 21 showed managed money in live cattle futures and options increasing their net long by 1,147 contracts to 124,901 contracts. In feeder cattle, they trimmed 797 contracts from their net long to 24,727 contracts.
USDA reported Wholesale Boxed Beef prices lower in the Tuesday PM report, with the Chc/Sel spread widening to $13.94. Choice boxes were down $4.17 to $364.72, while Select was $7.10 lower at $350.78. USDA federally inspected cattle slaughter was estimated at 122,000 head for Tuesday, with the weekly total at 237,000. That was 8,000 head below last week and 6,214 head shy of the same week last year.
Dec 25 Live Cattle closed at $218.475, up $4.275,
Feb 26 Live Cattle closed at $220.800, up $4.875,
Apr 26 Live Cattle closed at $222.425, up $4.875,
Jan 26 Feeder Cattle closed at $329.875, up $8.800,
Mar 26 Feeder Cattle closed at $323.925, up $8.400,
Apr 26 Feeder Cattle closed at $323.300, up $8.450,
