The front month cattle futures were $0.52 to $1.10 higher on the day, though October remains at a 37 cent loss for the week with one day remaining.  The feeder cattle futures market settled off the session highs, but still $0.85 to $1.22 higher on the day. Thursday’s FCE auction made no sales on $176-$178 bids and $177-$180 asks. USDA reported some light $188-$190 WCB sales on Thursday. The 8/9 CME Feeder Cattle Index was 46 cents stronger to $245.42.Â
USDA’s weekly Export Sales report showed 14,843 MT of beef was sold during the week that ended 8/3. That was a 19% increase for the week and was slightly above the same week last year. Beef commitments reached 634,763 MT for the year through 8/3, compared to 790k MT at the same time last year.Â
Wholesale Boxed Beef prices were weaker in the PM update, with a $1.49 drop in Choice and a 34 cent weaker Select quote. USDA estimated FI cattle slaughter for the week through Thursday as 491k head. That remains 3k lighter than last week and 2k head behind the same week last year.Â
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Aug 23 Cattle  closed at $181.100, up $0.525,
Oct 23 Cattle  closed at $182.525, up $0.825,
Dec 23 Cattle  closed at $186.600, up $1.100,
Aug 23 Feeder Cattle  closed at $248.000, up $0.850
Sep 23 Feeder Cattle  closed at $251.575, up $0.950
Oct 23 Feeder Cattle  closed at $253.325, up $1.175
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.
