Although cattle managed to put in a strong performance this week, it wasn’t a pretty performance. Live cattle have the best performance, ending higher in 3 out of four sessions for the week ending Thursday while feeder cattle traded flat to lower in 3 out of 4 sessions this week. The front month contracts in both were the best performers as they remain tied to the cash trade.
To start the week, live cattle traded mostly on the higher side in a choppy session and closed with small gains. Feeder cattle closed mixed with the front month ending with small gains while the deferred month closed with small losses. Last week’s federally inspected cattle slaughter was estimated at 478,000, which was 12,000 higher than the prior week but 6,000 lower than the same week last year. Tariffs concerns, light supplies and a sharply lower stock market all put influence on the cattle performance.
Live cattle traded on the higher side for the first part of the session Tuesday but turned lower and closed with losses. Feeder cattle traded back and forth on both sides of unchanged and closed with small gains in most contracts (the April contract closed 22.5 cents lower). The lack of a cash trade pressured the live cattle while tight supplies and the uncertainty on imports from Mexico supported the front month feeder cattle. The deferred months were pressured by expectations of increased availability of calves as producers start to market calves that have been grazing on winter wheat fields in the south. Boxed beef prices were higher today.
Midweek’s session had live cattle gapping higher at the start of the session and then adding to the gains. The market then stayed around that level for the rest of the session, closing sharply higher. Feeder cattle also gapped higher at the start of the session and held most of those gains into the close, closing solidly higher. The cattle markets were supported by ongoing tight supplies and an improving cash trade this week. Tariff talk also continues to support cattle as the administration continues to threaten retaliatory tariffs against countries that have tariffs on US imports as well as increasing tariffs on Canada, Mexico, China, and the EU.
To close out the week live cattle opened steady and then started climbing higher. The market pulled back late in the session, trimming gains but still closing with decent gains. Feeder cattle traded higher for most of the session, but like live cattle, faded late in the session and closed with losses. Profit taking after yesterday’s strong gains pressured cattle. Forecasts for a wintery mix to blanket the Northern Plains this weekend pressured cattle as it will slow down cattle movement and lower feedlot performance. Last week’s export sales were a 5-week high.
For the week, April live cattle were at $203.175 up $2.90. March feeder cattle were at $281.975 up $5.00.
Cattle Weekly Comments March 14
Cattle Weekly Comments March 14
Although cattle managed to put in a strong performance this week, it wasn’t a pretty performance. Live cattle have the best performance, ending higher in 3 out of four sessions for the week ending Thursday while feeder cattle traded flat to lower in 3 out of 4 sessions this week. The front month contracts in both were the best performers as they remain tied to the cash trade.
To start the week, live cattle traded mostly on the higher side in a choppy session and closed with small gains. Feeder cattle closed mixed with the front month ending with small gains while the deferred month closed with small losses. Last week’s federally inspected cattle slaughter was estimated at 478,000, which was 12,000 higher than the prior week but 6,000 lower than the same week last year. Tariffs concerns, light supplies and a sharply lower stock market all put influence on the cattle performance.
Live cattle traded on the higher side for the first part of the session Tuesday but turned lower and closed with losses. Feeder cattle traded back and forth on both sides of unchanged and closed with small gains in most contracts (the April contract closed 22.5 cents lower). The lack of a cash trade pressured the live cattle while tight supplies and the uncertainty on imports from Mexico supported the front month feeder cattle. The deferred months were pressured by expectations of increased availability of calves as producers start to market calves that have been grazing on winter wheat fields in the south. Boxed beef prices were higher today.
Midweek’s session had live cattle gapping higher at the start of the session and then adding to the gains. The market then stayed around that level for the rest of the session, closing sharply higher. Feeder cattle also gapped higher at the start of the session and held most of those gains into the close, closing solidly higher. The cattle markets were supported by ongoing tight supplies and an improving cash trade this week. Tariff talk also continues to support cattle as the administration continues to threaten retaliatory tariffs against countries that have tariffs on US imports as well as increasing tariffs on Canada, Mexico, China, and the EU.
To close out the week live cattle opened steady and then started climbing higher. The market pulled back late in the session, trimming gains but still closing with decent gains. Feeder cattle traded higher for most of the session, but like live cattle, faded late in the session and closed with losses. Profit taking after yesterday’s strong gains pressured cattle. Forecasts for a wintery mix to blanket the Northern Plains this weekend pressured cattle as it will slow down cattle movement and lower feedlot performance. Last week’s export sales were a 5-week high.
For the week, April live cattle were at $203.175 up $2.90. March feeder cattle were at $281.975 up $5.00.