Cattle Rallying as Cash Climb Pushes to Record Highs

By: barchartnews|2025/05/02 21:00:01
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Live cattle futures held higher on Thursday by cash strength, as futures were up 27 cents to $1.25. Preliminary open interest was up 5,453 contracts on Thursday, with most coming in August (3,801 contracts) and October (1,484 contracts). Cash trade has been $218 in the South, with business up to $222-224 in the North. The Central Stockyards Fed Cattle Exchange online auction showed sales on 436 of the 872 head offered at $218 in TX. Feeder cattle futures closed the session with contracts down 50 cents to $1 and May up 65 cents to keep up with the index. The CME Feeder Cattle Index was up 33 cents on April 30, with the average price at $296.10. Export Sales data showed a total of 12,290 MT of beef sold in the week of 4/24, back up from the week prior. Japan was the buyer of 4,000 MT, with 3,700 MT to South Korea. Shipments were 15,776 MT, a 7-week high. The top destination was South Korea at 5,600 MT, with 4,900 MT to Japan.USDA’s National Wholesale Boxed Beef report saw mixed action on Thursday afternoon, as the Chc/Sel narrowed back to $18.89. Choice boxes were down $2.14 at $343.17/cwt, with Select up $2.26 to $324.28. Federally inspected cattle slaughter was estimated at 120,000 head for Thursday, with the weekly total at 465,000. That is 1,000 head below the week prior and down 14,278 head from the same week last year.Jun 25 Live Cattle closed at $209.650, up $1.250,Aug 25 Live Cattle closed at $204.650, up $0.600,Oct 25 Live Cattle closed at $202.225, up $0.275,May 25 Feeder Cattle closed at $293.225, up $0.650,Aug 25 Feeder Cattle closed at $294.450, down $0.575,Sep 25 Feeder Cattle closed at $292.850, down $0.950, 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.

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