Live Cattle Futures Market News and Commentary
Monday was first notice day for August fats, and prices were 80 cents higher to $103.60. That’s still a $0.60 to $4.60 premium over cash. The other front months were up 67 to 90 cents. Feeder cattle futures gained 15 to 85 cents on the day, with August the strongest. The August 7 CME Feeder Cattle index was $0.69 stronger to $142.61. Cash sales have yet to develop this week. Wholesale boxed beef prices were higher on Monday, widening the Chc/Sel spread to $13.27. Choice boxes were $1.73 cwt. stronger to $207.20. Select boxes were up by $1.18 cwt. USDA estimated the week’s start to FI cattle slaughter at 117,000 head. That is 4k above last week’s start, and 2,000 head above the same Monday last year.
Aug 20 Cattle closed at $103.600, up $0.800,
Oct 20 Cattle closed at $107.150, up $0.700,
Dec 20 Cattle closed at $110.975, up $0.900,
Aug 20 Feeder Cattle closed at $143.575, up $0.850
Sep 20 Feeder Cattle closed at $145.4... Read more