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)
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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.
