
Midweek cattle futures are trading with firmness through midday. Prices are mixed but mostly higher within 30 cents of UNCH. Feeder cattle are also mixed within 50 cents of UNCH. Wednesday’s FCE auction from Central Stockyards again had no sales for the 1,687 head listed. Bids stayed under $142, and asks were between $143-$144. USDA confirmed some more WCB trade on Tuesday, though still light, at $145. The 9/19 CME Feeder Cattle Index was 28 cents higher at $178.20.
Trader estimates going into the Friday CoF report are to see within 1% of Sep ‘21s herd on 1,000+ head feedlots. August placements are expected to be 1.5% lower yr/yr at an implied 2.071m head. Analysts average for a 6% larger marketings for August, ranging from 5.4% to 6.4% above Aug ’21.
USDA’s Wholesale Boxed Beef prices were mixed again this morning with a $1.57 drop in Choice to $250.07 cwt. and a 36 cent increase in Select to $227.59 cwt. USDA estimated FI cattle slaughter at 255,000 head for the week through Tuesday. That is up 2,000 from last week and is 14,000 head more yr/yr.
Oct 22 Cattle are at $146.175, down $0.125,
Dec 22 Cattle are at $151.275, up $0.200,
Feb 23 Cattle are at $155.475, up $0.275,
Sep 22 Feeder Cattle are at $178.800, down $0.000
Oct 22 Feeder Cattle are at $180.600, up $0.575