Cattle Futures Advance as Market Momentum Builds on Monday
<p>Live cattle futures rose 42 cents to $2.35 per hundredweight by midday. Strong gains in equities following the weekend US‑Iran agreement are providing spillover support. Cash market activity resumed on Friday, reaching $255 nationally, with late‑day trades climbing to $257‑$258. Feeder cattle futures advanced $4.10 to $5.32 by midday, while the CME Feeder Cattle Index slipped $2.09 to $368.01 on June 10.</p>
<p>Managed funds reduced their net long position in live cattle futures and options by 5,962 contracts for the week ending June 9, bringing the total to 109,002 contracts. CFTC data indicated that speculators added only 77 contracts to their net long position in feeder cattle futures and options, reaching 10,920 contracts by Tuesday.</p>
<p>Wholesale boxed beef prices were lower in the Monday morning report, with the Chc/Sel spread at $19.01. Choice boxes increased $2.45 to $394.38, while select boxes rose $2.65 to $375.37. USDA reported that federally inspected cattle slaughter totaled 524,000 head last week, down 7,000 from the prior week and 36,282 head fewer than the same period a year earlier.</p>
<p>June 26: Live cattle futures settled at $250.30, up $0.425.</p>
<p>August 26: Live cattle futures were at $242.70, up $1.525.</p>
<p>October 26: Live cattle futures traded at $236.15, up $2.35.</p>
<p>August 26: Feeder cattle futures quoted at $361.53, up $4.10.</p>
<p>September 26: Feeder cattle futures were at $359.58, up $5.03.</p>
<p>October 26: Feeder cattle futures traded at $356.25, up $5.33.</p>
<p><i>On the date of publication, Austin Schroeder held no direct or indirect positions in any of the securities referenced herein. The information and data presented are for informational purposes only. For further details, please consult the Barchart Disclosure Policy.</i><br>
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<p><a href="https://www.nasdaq.com/articles/cattle-rally-mode-monday">Source link </a></p>
