Live Cattle Futures PricesThu, Jul 31st, 2014
Latest Brugler Live Cattle Report
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Cattle futures are trading $1.82 to $2.40 lower on the day. Feeders are sharply lower, registering losses between $2.37 and $3.00 today, but the Sep contract was able to keep more than a $6 gain for the month. USDA reported weekly exports for beef at 17,300 MT. Wholesale beef prices are higher, with choice boxes up $1.60 at $264.52. The select cut out is up $0.54 at $261.37. Packers continue to receive significant returns from the byproduct credit, quoted at $16.20/cwt. At last weeks estimated average live weight of 1316 pounds, that credit would be $213.19 per head! Cash cattle trade is quiet, and not expected to develop until Friday. Asking prices appear to be $168-170 in the south and $266-269 in the north.
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