Live cattle futures were back down by $0.72 to $1.47 on Wednesday. August futures were down the most deliveries approach. The cash trade market remains thin for the week, though USDA confirmed some minimal $185-$186 in the North through Wednesday. The FCE auction had no sales between the $177 bids and $180+ asks on the 1,412 head listed. Nearby feeder cattle futures were $1.20 to $1.80 weaker on Wednesday, but settled $1 off the daily lows. The CME Feeder Cattle Index increased 83 cents to $244.69 for 7/31.Â
The Wholesale Boxed Beef report showed Choice boxes were $2.92 lower to $303.18 and Select dropped $2.13 to $277.47 in the PM update. USDA’s estimate for Federally Inspected cattle slaughter was 371,000 head through Wednesday. That trails last week by 2,000 and the same week last year by 1,000 head.Â
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Aug 23 Cattle  closed at $178.025, down $1.475,
Oct 23 Cattle  closed at $180.500, down $1.325,
Dec 23 Cattle  closed at $184.600, down $1.025,
Aug 23 Feeder Cattle  closed at $246.825, down $1.650
Sep 23 Feeder Cattle  closed at $250.100, down $1.800
Oct 23 Feeder Cattle  closed at $251.850, down $1.550
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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