Live cattle prices are up 22 to 45 cents at midday. October cattle are at a net $2.20 loss for the week’s move. Friday’s FCE with 1,736 head listed resulted in one sale for 150 TX heifers at $180.75. The other cattle went unsold from $178 bids and $180 asks. USDA confirmed very light cash trade on Thursday, mostly near $183-$186 in the WCB. For the most part the week’s cash activity remains unestablished. Midday feeders are trading 85 to 92 cents higher on the board. The CME Feeder Cattle Index for 7/26 was 28 cents higher to $242.29.
Wholesale Boxed Beef prices weakened in Friday morning’s update with a 24c loss in Choice to $302.62 and a $3.09 weaker Select quote of $276.67. USDA estimated the week’s federally inspected cattle slaughter at 499k head through Thursday. That is 4k ahead of last week’s pace and up 8k head from the same week last year.
Aug 23 Cattle are at $178.525, up $0.475,
Oct 23 Cattle are at $179.775, up $0.275,
Dec 23 Cattle are at $183.900, up $0.500,
Cash Cattle Index was $180.000, from $180.00 last week
Aug 23 Feeder Cattle are at $245.550, up $0.900
Sep 23 Feeder Cattle are at $249.100, up $0.825
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.
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