Live cattle futures rose on Monday, finishing $2.07 to $2.92 higher. Cash prices from the prior week were $1 to $6 above, settling between $222 and $225. Feeder contracts led the gains, climbing $2.72 to $5.75. The CME Feeder Cattle Index increased $10.49 on September 11, reaching $341.71. The weekly OKC feeder cattle auction sold 5,800 head, with steers up $15 to $25 and heifers up $15 to $20.
Tuesday’s Crop Progress report indicated that U.S. pasture conditions were rated 19% good to excellent, a 1 percentage point improvement from the prior week. The Brugler500 index rose by five points to 248.
Wholesale boxed beef prices showed mixed movement in the Monday afternoon report. The Chc/Sel spread narrowed to $20.76. Choice boxes fell 63 cents to $375.31, while select boxes rose $1.42 to $354.55. USDA estimated that 106,000 federally inspected cattle were slaughtered on Monday, exceeding the prior week due to the holiday but remaining 3,967 head below the same period last year.
On October 26, live cattle closed at $222.250, up $2.575; on December 26, they closed at $225.150, up $2.925; on February 27, they closed at $226.300, up $2.300. Feeder cattle prices were $343.575 on September 26 (up $5.750), $337.850 on October 26 (up $5.350), and $332.775 on November 26 (up $4.600).
