Live Cattle Aug '20 (LEQ20)
Live Cattle Futures Market News and Commentary
After gaining the first two days of the short week, live cattle futures are down 32 to 67 cents at midday, save for June contracts which are a nickel stronger. Feeder cattle futures are also lower past the front month, with losses of 15 to 42 cents, August feeders are up a nickel. The May 26 Feeder Cattle Index from CME was 33 cents lower to $126.11. Wednesday cash sales were reported at $120 in the South, and $178 to $190 for Dressed. USDA mentioned the bulk of dressed sales moved from $180 last week to $190 for this week so far. Wholesale boxed beef prices were reduced further in the AM update, Choice boxes were $6.56 lower and Select boxes were down by $2.85. In April China imported 164k MT of beef, which was up 28% yr/yr. Cattle slaughter for the shortened week was at 220,000 head through Wednesday, which compares to 248,000 from the same last year.
JUN 19 Cattle are at $100.850, up $0.050,
AUG 19 Cattle are at $100.400, down $0.325,
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