Live cattle are rallying on 57 to 95 cents on Wednesday’s midday. Wednesday’s online Fed Cattle Exchange from Central Stockyards showed sales of 120 head @ $195 in IA using their BidTheGrid™ method. Cash action has been light so far this week ahead of the holiday, with some $186-188 bids being reported in KS. Last week saw sales of $198 and a few up to $200 in the north and $190 in the south. Feeder cattle are up $1.05 to $2.50 at midday. The CME Feeder Cattle Index was back up $1.98 on July 1 at $257.58.
Beef exports in May were pegged at 258.93 million lbs by converting Census data to a carcass equivalent basis. That is a 4-year low and down 0.2% from April.
USDA wholesale Boxed Beef prices were back lower in the Wednesday morning report. Choice boxes were down 70 cents to $329.69/cwt, with Select 12 cents lower at $306.36. The Chc/Select spread widened to $23.33. 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 are at $185.825, up $0.725,
Oct 24 Live Cattle are at $186.625, up $0.975,
Dec 24 Live Cattle are at $188.575, up $0.925,
Aug 24 Feeder Cattle are at $263.600, up $2.500
Sep 24 Feeder Cattle are at $263.450, up $2.125
Oct 24 Feeder Cattle are at $263.300, up $1.850
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.
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