Cattle Face Tuesday Pressure on Weaker Start to Cash Trade
Live cattle futures were back lower on Tuesday, with longs taking some money off the table. Preliminary open interest confirmed that, down 5,283 contracts. Futures were down $1.50 to $2.20 at the close. There were no deliveries issued again on Tuesday for February live cattle. Cash trade has started early this week at $203 in the South so far, which is down $3 from the previous week. Sales were $206 in the South last week and $208 in the North.
Feeder cattle futures also faced with selling pressure, as contracts fell $2.50 to $3.12 to Tuesday’s final bell. CME’s Feeder Cattle Index was reported at $275.85 on February 10, up 9 cents from the day prior.
WASDE data from Tuesday morning showed a 775 million lb hike for 2025 beef production to 26.565 billion lbs. That mostly in the second half of the year, with quarter 2 up just 15 million lbs. Quarter 3 production was up 215 million lbs from last month, with quarter 4 up 545 million lbs.
USDA’s National Boxed Beef report showed beef prices weaker on Tuesday afternoon, with the Chc/Sel spread widening @ $10.25. Choice boxes were $1.04 lower to $322.46/cwt, with Select down $1.71 at $312.21. Federally inspected cattle slaughter for Tuesday was estimated at 122,000 head by the USDA. The weekly total is at 217,000 head, 20,000 head below last week and down 21,941 head from the same week last year.
Feb 25 Live Cattle closed at $199.675, down $2.200,
Apr 25 Live Cattle closed at $196.000, down $2.125,
Jun 25 Live Cattle closed at $191.375, down $1.825,
Mar 25 Feeder Cattle closed at $264.775, down $3.125,
Apr 25 Feeder Cattle closed at $264.975, down $2.800,
May 25 Feeder Cattle closed at $263.675, down $2.650,
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.