Feeder Cattle Futures Market News and Commentary
Front month live cattle futures are trading $0.55 to $0.70 lower so far. USDA reported cash trade from $123 - $126 this week, though the bulk of TX sales were $124 with $123 - $124 in KS and $125 in NE. Feeder cattle futures are firmer with Sept UNCH so far and the deferreds within 25 cents of UNCH. The CME Feeder Cattle Index was back up by 58 cents to $154.60.
Chinese State Customs data showed August beef imports were 190k MT. That was up 2.3% from August 2020, and left the calendar total at 1.52 MMT – up 9.1%.
Wholesale Boxed Beef prices were back up in the AM report, as Choice was up $1.20 and Select was 56 cents stronger. Federally inspected cattle slaughter for the week through Saturday was estimated at 660,000 head.
Oct 21 Cattle are at $122.125, down $0.675,
Feb 22 Cattle are at $131.050, down $0.500,
Sep 21 Feeder Cattle are at $154.875, UNCH
Oct 21 Feeder Cattle are at $156.325, down $0.050