Livestock Retreat Prolonged on Friday
In the latest market update, prices for Live Cattle and Feeder Cattle have seen a downward trend.
On December 25, Live Cattle stood at $237.225, marking a decrease of $1.325. Similarly, on October 25, Live Cattle was priced at $235.675, down $1.275. The trend continued on September 25 with a price of $238.500, a decrease of $1.375, and on November 25, the price was at $355.275, down $2.800.
The same trend is visible in Feeder Cattle prices. On October 25, Feeder Cattle was priced at $357.100, down $1.850. A week later, on November 25, the price was at $355.275, down another $2.800. The CME Feeder Cattle Index also reflected this trend, falling $4.08 on September 3.
Despite the decline in cattle and feeder cattle prices, weekly export sales data showed a positive development. In the week of August 28, a total of 16,573 MT of beef was sold, marking a 6-week high. Shipments were at 11,486 MT, slightly higher than the previous week.
The USDA estimated cattle slaughter for Thursday at 121,000 head, with the week-to-date total at 363,000 head. This represents a decrease of 17,308 head compared to the same week in 2024.
Cash activity for live cattle this week saw sales of $242-243, with some regions reporting $1 higher in the South and $2-3 weaker in the North. This morning's Fed Cattle Exchange online auction recorded sales of $242 on 40 of the 242 head offered using the BidTheGridTM method.
USDA Wholesale Boxed Beef prices were lower in the Friday AM report, with the Chc/Sel spread at $24.07.
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As of the date of publication, Austin Schroeder does not have positions in any of the securities mentioned in this article. A search for Austin Schroeder did not yield any information about his portfolio or other stocks he held at the time of publication from the provided data.
Feeder cattle futures are down 52 cents to $2.80 so far on Friday. Live cattle futures for midday on Friday are experiencing losses of $1.27 to $1.37 in the front months.
Stay tuned for more updates on the cattle and feeder cattle market.
