Live cattle are trading with midday gains of 47 cents to $1.02 in the front months, but lower in the deferreds. Cash trade settled in at $240-244 in the north and $242-245 in the south. Feeder cattle futures are down 30 to 60 cents in the nearbys, with May up 17 cents. The CME Feeder Cattle Index was back down 69 cents to $374.47 on February 5. The Monday OKC feeder cattle auction has an estimated 9,500 head for sale, with a higher undertone reported early.
On Friday, President Trump signed an executive order to raise the TRQ on beef imports from Argentina by 80,000 MT, a move signaled last fall. For reference, average monthly imports of beef from all origins in 2025 was 151,666 MT.
The weekly Commitment of Traders report showed a total of 8,846 contracts added to the managed money net long position in live cattle futures and options as of 2/3, taking the net long to 114,531 contracts. In Feeder cattle futures and options, specs were trimming 194 contracts from the spec net long to 16,435 contracts.
Wholesale Boxed Beef prices were higher in the Monday morning report, with the Chc/Sel spread narrowing to $3.02. Choice boxes were up 28 cents to $369.61, while Select was $2.06 higher at $366.59. USDA estimated federally inspected cattle slaughter for last week at 536,000 head. That is 8,000 head above last week but 46,606 head shy of the same week last year.
Feb 26 Live Cattle are at $238.775, up $1.025,
Apr 26 Live Cattle are at $237.725, up $0.475,
Jun 26 Live Cattle are at $233.800, down $0.050,
Mar 26 Feeder Cattle are at $366.825, down $0.600
Apr 26 Feeder Cattle are at $362.500, down $0.300
May 26 Feeder Cattle are at $357.300, up $0.175
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
