Live cattle were firmer on Tuesday, with contracts up 82 cents to $2.10 at the close. Tuesday’s online Fed Cattle Exchange from Central Stockyards showed sales of 923 head @ $193-193.25 in TX using their BidTheGrid™ method. The other 2,413 head went unsold, with no live bids offered. Cash trade last week was $198 and a few up to $200 in the north and $190 in the south. Feeder cattle shot higher on Tuesday, as futures were up $3.27 to $3.85 at the close. The CME Feeder Cattle Index was back up $1.98 on July 1 at $257.58.
Cargill’s Dodge City, KS beef plant expects to resume operations on Friday, after a storm related partial roof collapse earlier this week caused a suspension of operations.
USDA wholesale Boxed Beef prices were again higher in the Tuesday afternoon report. Choice boxes were up another $1.21 to $330.39/cwt, with Select 7 cents higher at $306.48. The Chc/Select spread widened to $23.91. USDA estimated Tuesday’s FI slaughter at 118,000 head, taking the WTD total to 233,000 head. That is down 3,000 head from the previous week and well above the same week last year due to the holiday falling on Tuesday.
Aug 24 Live Cattle closed at $185.100, up $0.825,
Oct 24 Live Cattle closed at $185.650, up $1.500,
Dec 24 Live Cattle closed at $187.650, up $2.100,
Aug 24 Feeder Cattle closed at $261.100, up $3.725,
Sep 24 Feeder Cattle closed at $261.325, up $3.375,
Oct 24 Feeder Cattle closed at $261.450, up $3.275,
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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