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Live cattle futures are just off their session lows into midday on triple digit losses. August is $1.30 weaker so far. Feeders are trading with 1.2% losses of as much as $3.37 in the front months. The FCE auction had 1,494 head listed with no sales between $175 and $177 bids and $178-179 asks. USDA reported sparse $178 - $184 cash cattle trade on Wednesday, but maintained volumes were too light for a market test. The CME Feeder Cattle Index was 22 cents weaker on 7/11 to $238.11. Â
Weekly beef bookings were 9,931 MT according to the FAS data release. That was an 11 week low. The week’s exports were a 16-week low of 13,978 MT leaving the accumulated total at 428,843 MT.Â
USDA’s Wholesale Boxed Beef report showed a tighter Chc/Sel spread as Choice came down $3.29 to Selects $1.75 increase. USDA’s federally inspected cattle slaughter estimate was running at 377k head for the week through Wednesday. That is 3k head more than the same week last year.
Aug 23 Cattle  are at $175.475, down $1.400,
Oct 23 Cattle  are at $178.950, down $1.300,
Dec 23 Cattle  are at $182.225, down $1.150,
Cash Cattle Index was $178.000, from $178.00 last week
Aug 23 Feeder Cattle  are at $243.625, down $2.950
Sep 23 Feeder Cattle  are at $246.050, down $3.225
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
