Live Cattle Futures Surge, Feeder Cattle Rally

Live cattle futures surged on Tuesday, with cash trade yet to commence, following last weeks prices of around two hundred and twenty dollars in the South and slightly lower in the North. Feeder cattle futures also rallied, with the CME Feeder Cattle Index increasing by twelve dollars and sixty-six cents. Managed money investors boosted their net long positions in live cattle futures and options, while slightly reducing their net long positions in feeder cattle. Boxed beef prices dropped, with the spread between Choice and Select widening. The estimated federally inspected cattle slaughter for Tuesday was one hundred and twenty-two thousand head, eight thousand head below last weeks numbers and more than six thousand head less than the same week last year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.