So far through Thursday, the fat cattle futures market is 47 to 72 cents in the black. The August contract is up by 17 cents as options expire tomorrow ahead of Monday’s FND for futures. Central Stockyards reported no sales for the 1,412 head listed on Thursday’s FCE auction. The cash trade market remains thin for the week, though USDA confirmed some minimal $185-$186 in the North through Wednesday. Feeder cattle futures are trading $0.55 to $1.05 higher so far. The CME Feeder Cattle Index increased 83 cents to $244.69 for 7/31.
USDA’s weekly Export Sales update had 12,434 MT of beef bookings for the week that ended 7/27. That was 60% of last week’s volume, but 3% above the same week last year. South Korea and Japan were the top buyers. Beef exports were 17,240 MT for the week leaving total shipments at 478,428 MT for the year. That trails last year by 14%, but remains the 4th most on record through July at the weekly level.
The Wholesale Boxed Beef report showed had mixed quotes, with a 74 cent drop in Choice and a $1 increase for Select. 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.
Aug 23 Cattle are at $177.900, down $0.125,
Oct 23 Cattle are at $180.600, up $0.100,
Dec 23 Cattle are at $184.850, up $0.250,
Cash Cattle Index was $179.000, from $180.00 last week
Aug 23 Feeder Cattle are at $247.225, up $0.400
Sep 23 Feeder Cattle are at $250.950, up $0.850
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.
/Microsoft%20Corporation%20logo%20on%20phone-by%20rafapress%20via%20Shuterstock.jpg)
