Live Cattle Futures Market News and Commentary
Front month live cattle futures closed the day with losses of as much as $1.22. Feeder cattle losses also touched triple digits in Nov contracts, the other nearbys were down 32 to 82 cents. . The CME Feeder Cattle index for July 13 was $135.62, up by 45 cents. USDA reported Tuesday cash sales activity at $95 in TX and KS, with a few KS sales at $96.25. Dressed activity was light on Tuesday. Wednesday’s FCE cattle auction has 1,224 head listed so far. Wholesale boxed beef prices were lower again on Tuesday. The Chc/Sel spread is $10.07. Choice boxes were $200.97, after a $2.34 drop, and Select boxes weakened by $1.03. USDA estimated FI cattle slaughter for Tuesday at 119,000 head. That puts FI slaughter at 234,000 head for the week. WTD slaughter is running even with last week through Tuesday and trails the same week last year by 8,000 head.
Aug 20 Cattle closed at $98.800, down $0.850,
Oct 20 Cattle closed at $103.100, down $1.100,
Dec 20 Ca... Read more