Cattle Futures Up Ahead of Friday’s On Feed Report

by Joy

At the Chicago Mercantile Exchange, both live and feeder cattle futures saw gains on Thursday, as traders await the USDA’s On Feed report set for Friday.

February live cattle closed up $1.05 at $201.10.

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April live cattle increased by $0.95, closing at $200.72.

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March feeder cattle ended $1.00 higher at $274.07.

April feeder cattle rose by $1.15, closing at $272.45.

These gains were driven by anticipation for further market developments, including the On Feed report, which could provide insight into supply and demand dynamics for the cattle market.

Cash Cattle Trade Activity

Direct cash cattle trade remained relatively quiet on Thursday. While there was light trading throughout the week, no significant trends have emerged yet.

In the South, deals were reported between $201 and $202, which is steady to $1 higher compared to last week’s weighted averages.

In Nebraska, a few sales occurred at $322 dressed, which is $2 higher than the previous week but not enough to establish a definitive market trend.

It’s expected that more cash cattle trade will take place before the end of the week, likely Friday.

Winter Livestock Market in Kansas

At the Winter Livestock Market in Kansas, feeder cattle prices showed positive movement.

Steers over 700 pounds were up by $7 to $10.

Heifers over 500 pounds saw prices increase by $7, while lighter heifers were not well tested.

Demand for the livestock was good, with steers making up 60% of the feeder supply.

Feeder steers in the Medium and Large 1 category ranged as follows:

752 to 787 pounds: $266 to $289

801 to 847 pounds: $259.75 to $278.50

Feeder heifers in the Medium and Large 1 category:

701 to 747 pounds: $251 to $269

801 to 843 pounds: $238 to $251

Boxed Beef Market

Boxed beef prices closed lower on light demand, which led to slight declines:

Choice cut prices fell by $1.06, settling at $330.94.

Select cuts dropped by $0.78, closing at $317.21.

The Choice/Select spread stands at $13.75. Estimated cattle slaughter totaled 123,000 head, which was 1,000 head lower than last week and nearly 3,000 fewer than the same time last year.

Lean Hog Market

Lean hog futures saw mixed movement ahead of the USDA’s production report:

February lean hogs rose by $0.65, closing at $82.12.

April lean hogs declined slightly by $0.07, closing at $87.20.

The cash hog market showed some strength, with prices rising due to a fairly light negotiated run. While there wasn’t a major surge in activity, processors bid higher to meet demand.

Global demand for U.S. pork remains robust, offering some support to the market. Export sales data will be released on Friday, following a delay due to the holiday.

Pork Market and Slaughter Data

Pork values closed higher, up $1.60 at $91.77, with all primals showing gains except for picnics.

Estimated hog slaughter was 472,000 head, which was 10,000 lower than last week and down by more than 6,000 head compared to last year.

The market is closely monitoring potential tariff-related developments, as uncertainty around this issue could affect future pork prices.

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