Live Cattle (P) Futures PricesThu, Jul 2nd, 2015
Latest Brugler Live Cattle (P) Report
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Live cattle futures closed mostly higher, with August and October prices gaining 15 and 42 cents, but December losing 2 1/2. Feeder futures finished the session 80 cents to $1.05 lower due to higher feed costs. Live cattle prices are up $2.70 from last Friday. USDA reported net weekly beef export sales through June 25 totaled just 6,600 MT, a 42% decrease from the previous week. Packers paid $240-242 today in NE and $153-153.50 in the south. Wholesale prices are off this afternoon according to the USDA. Choice boxes down $2.17 to $250.12, and select boxes $1.21 lower to $248.05. The spread between the two is now $2.07 beating the low from yesterday by nearly a dollar, and marking the tightest spread since March 24 ($2.05). You are not being paid to add finish to those cattle. Week to date slaughter numbers are 14,000 head higher than last week, but only 96.37% of the same period in 2014.
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