Fat cattle futures were firm on Wednesday, ending the day mixed within 22 cents of UNCH. Feeders were weaker at the close, but still finished just 27 to 47 cents in the red. Sep feeders are still at a net 5 cent gain for the week. USDA confirmed some light trade in the WCB on Wednesday near $185. The 8/22 CME Feeder Cattle Index was $244.75 after a 19 cent drop.
NASS reported 420.1m lbs of beef in cold storage for the month of July. That was 2% more than June stocks but remains 18% tighter yr/yr.
Wholesale Boxed Beef prices were UNCH in Choice on Wednesday afternoon, but $2.08 higher in Select. USDA quoted the rib primals at $508.96 for Choice and $415.79 for Select. USDA estimates the week’s FI cattle slaughter at 364,000 head through Wednesday. That is 3k head below last week and 10k head below the same week last year.
Aug 23 Cattle closed at $178.050, up $0.100,
Oct 23 Cattle closed at $178.675, up $0.050,
Dec 23 Cattle closed at $182.925, down $0.225,
Aug 23 Feeder Cattle closed at $245.025, down $0.475
Sep 23 Feeder Cattle closed at $248.575, down $0.425
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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