Cattle Close Friday in the Black

Live cattle futures slid in the August contract this week, down by 12 cents Fri/Fri. The other front month’s saw gains on Friday that flipped the board into the black for the week’s move. October gained $1 on Friday for a weekly 55c gain. Four pens from Grizzle Feedyard in CA were sold in Friday’s FCE auction for a total of 142 head sold at $180. USDA confirmed cash trade was mostly light in the South this week near $182. Limited sales were mentioned near $185-$189 in the North. Board feeder prices are $1.02 to $1.12 higher at midday. Friday’s feeder cattle market settled up by 42 to 80 cents. August was still $4.07 in the red for the week’s move. The CME Feeder Cattle Index was 57 cents weaker to $227.68 on 6/14. 

The weekly CFTC update showed net new buying from cattle spec traders during the week that ended 6/13. That left the group 5.3k contracts more net long at 120k contracts. The managed money funds were 1,416 contracts more net long in feeder cattle, which was left the group at a 19,486 net long. 

USDA’s Wholesale Boxed Beef report had Choice boxes $1.02 higher to $343.09 cwt. Select boxes were $1.37 stronger to $310.95. USDA marked the week’s federally inspected cattle slaughter at 634k head through Saturday. That is up from 616k last week, but 34k head below the same week last year. 

Jun 23 Cattle  closed at $178.350, up $0.775,

Aug 23 Cattle  closed at $171.725, up $0.650,

Oct 23 Cattle  closed at $175.350, up $1.000,

Aug 23 Feeder Cattle  closed at $234.925, up $0.800

Sep 23 Feeder Cattle  closed at $238.175, up $0.650

Oct 23 Feeder Cattle  closed at $240.300, up $0.500