Feeder Cattle Aug '20 (GFQ20)
Feeder Cattle Futures Market News and Commentary
Front month cattle futures go into the weekend with 37 to 97 cent gains, finishing the session below Thursday’s sell off. Friday’s catch up trade was $120-$124, and as high as $200 for high graded dressed sales. The bulk of the week’s cash trade had been near $122 in the South and near $124 in the North, with $195 in the beef. Feeder cattle futures closed the last trade day of the week $1.37 to $2.37 in the red. The 6/16 Feeder Cattle Index from CME was 93 cents stronger to $141.28.
Wholesale Boxed Beef prices were quoted weaker again on Friday afternoon. Choice was down another $2.97 to $323.28 cwt. and Select boxes were $3.63 weaker to $283.61 cwt. USDA estimates the week’s cattle slaughter at 663,000 head through Saturday. That is 2,000 head lower wk/wk, but 17,000 above the same week last year.
Jun 21 Cattle closed at $121.050, up $0.950,
Oct 21 Cattle closed at $126.950, up $0.375,
Aug 21 Feeder Cattle closed at $155.025, down $2.375
Sep 21... Read more
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