Turnaround Tuesday resulted in cattle giving back most of the Monday gains. Fats flipped to net red for the week after the second trade session ended with $0.95 to $1.25 losses. The feeders remain 40 to 80 cents higher for the week, but backed off by $1.25 to $1.42 on Tuesday. USDA had no cash trade to report on Tuesday. Last week’s business was $178-179 for the South and $185-188 in the North. The CME Feeder Cattle Index dropped 27 cents to $244.96 on 8/21. Â
Wholesale Boxed Beef prices were higher on Tuesday, as Choice increased $1.49 and Select was up by $2.18. That tightened the spread back to $27.54. USDA estimated Tuesday cattle slaughter at 124k head for a weekly running total of 246k. That is 2k more than last week but down 4,000 head from the same week last year.Â
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Aug 23 Cattle  closed at $177.950, down $1.025,
Oct 23 Cattle  closed at $178.625, down $1.250,
Dec 23 Cattle  closed at $183.150, down $1.150,
Aug 23 Feeder Cattle  closed at $245.500, down $1.275
Sep 23 Feeder Cattle  closed at $249.000, down $1.325
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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