Live cattle futures saw mixed movement on Friday, closing up 30 cents to $1.15 higher, with October contracts rising 95 cents on the week. Cash trade activity increased slightly at $355-360 dressed and $223-227. However, feeder cattle futures declined 55 cents in the August front month, while September contracts fell $5.52 this week. The CME Feeder Cattle Index dropped 85 cents on August 20 to $341.00.
Earlier, President Trump announced the US would permit up to 300,000 metric tons of ground beef imports under no out-of-quota tariffs for 90 days.
USDA’s Cattle on Feed report indicated July placements fell 11.01% year-over-year to 1.422 million head, below forecasts. July marketings decreased 7.38% to 1.62 million head, aligning with expectations. August 1 on-feed inventory rose 1.79% to 11.117 million head, underestimating projected 2.4% growth.
Commitment of Traders data showed managed money reducing net long positions in live cattle futures by 3,148 contracts to 61,514, while feeder cattle futures saw a 1,240 contract pullback from 7,498.
Friday’s PM USDA report showed Wholesale Boxed Beef prices declining, with the Choice/Select spread narrowing to $24.37, Choice boxes falling $4.24 to $385.69 and Select prices down $2.42 to $361.32. USDA estimated 523,000 head of cattle were slaughtered this week, exceeding last week’s total by 6,000 but trailing the same period last year by 32,676 head.
Closing prices:
- August 26 Live Cattle: $223.050 (-$0.300)
- October 26 Live Cattle: $217.925 (-$0.075)
- December 26 Live Cattle: $218.500 (+$0.225)
- August 26 Feeder Cattle: $334.750 (-$0.550)
- September 26 Feeder Cattle: $329.025 (+$0.100)
- October 26 Feeder Cattle: $323.650 (+$0.950)
- Does Main Street Capital’s Dividend Still Come Out of Earnings, or Out of the Balance Sheet?
- “Hadestown: The Musical” Hits Streaming After Record-Breaking Theatrical Run
- Canada to hit US with retaliatory tariffs as trade war escalates
- Macron Welcomes Saudi Crown Prince for Talks Spanning Esports, Middle East Diplomacy
As of publication, Austin Schroeder held no positions in securities mentioned. All information is for educational use only. For details, review the Barchart Disclosure Policy.
