Live cattle futures are trading with front months down a tick to 40 cents on Wednesday, with December up 7 cents. Cash trade has yet to develop this week, with early bids of $186 in the South and $193 in the North. Feeder cattle futures are mixed, with August up 22 cents and other nearbys down 77 cents to $1.05. The CME Feeder Cattle Index was down $1.20 at $255.35 on August 5.
USDA wholesale Boxed Beef were reported lower again in the Wednesday AM report. Choice boxes were down $1.68 at $314.13, with Select products 15 cents lower @ $299.47. The Chc/Sel spread narrowed to $14.66. USDA estimated Tuesday’s FI slaughter at 122,000 head, taking the weekly total to 241,000. That is up 3,000 head from last week and 5,053 head below the same week a year ago.
Aug 24 Live Cattle are at $181.950, down $0.025,
Oct 24 Live Cattle are at $178.650, down $0.400,
Dec 24 Live Cattle are at $178.125, up $0.075,
Aug 24 Feeder Cattle are at $243.225, up $0.225
Sep 24 Feeder Cattle are at $239.800, down $0.775
Oct 24 Feeder Cattle are at $238.175, down $1.050
On the date of publication, Alan Brugler 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.