Live Cattle Futures Market News and Commentary
Front month live cattle futures closed the midweek session with 22 to 85 cent losses in the front months. Feeder cattle futures closed with 42 to 87 cent losses in the front months. The July 6 Feeder Cattle index was $130.13. There were four sales on the FCE online auction this morning. Two pens of KS steers went for $95.25, and two other KS lots sold at $95. In total, 659 head of the 1,390 listed sold at a wtd ave price of $95.12, packers passed on $97 asks. Cash sales outside of the FCE were mostly at $95, with limited IA and CO activity $99-$100. USDA confirmed cash sales this week are mostly $95 so far, with the full range $90-$101.50. Wholesale boxed beef prices were lower in the PM update. USDA reported Choice boxes at $203.83, a $1.47 drop. Select boxes were $195.52 cwt, down by $1.32. The week’s cattle slaughter is 354,000 head through Wednesday. That trails last week by 9,000 head and is 3k head below the same week last year.
Aug 20 Cattle closed at $99.... Read more