Live Cattle (P) Futures PricesWed, Jul 23rd, 2014
Latest Brugler Live Cattle (P) Report
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Cattle futures are trading37 to 65 cents higher after the August contract closed limit up on Tuesday. Wholesale beef prices posted solid gains the past few days. On Tuesday, Choice boxes were up another $ 2.28 at $252.80 and Select boxes were up $1.71 at $245.79. Those are both new record highs for the afternoon reports. Estimated week to date slaughter was reported 4K head larger than last Tuesday at 232,000 head. Show lists with asks in the $158-160 were reported in the South, and around $250 in the North, but no sales have been reported. The USDA Cold Storage report showed frozen beef stocks as of June 30 down to 74.3% of a year ago, and down 5.3% from May. The Cattle on Feed report will be released on Friday, with the trade average guess (Bloomberg) for July 1 On Feed at 98.11% of year ago.
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