Live cattle futures ended Tuesday with 5 to 45 cent gains in the front months and other contracts lower, as the equities calmed down. Cash trade has yet to develop this week, but is mostly compiling showlists. It rounded out last week with $188 sales in the south and $194-196 in the North, $2 lower on the week. Feeder cattle futures were down 20 cents to $1.00. The CME Feeder Cattle Index was down $1.20 at $255.35 on August 5.
Beef exports converted from Census data on a tonnage basis to a carcass basis showed 263.5 million lbs shipped in June, a slight 2.4% decline from last year but up 1.8% from May and a12- month high.
USDA wholesale Boxed Beef were reported lower in the Tuesday PM report. Choice boxes were down $2.13 at $315.81, with Select products 44 cents lower @ $299.62. The Chc/Sel spread narrowed to $16.19. USDA estimated Tuesday’s FI slaughter at 122,000 head, taking the weekly total to 241,000. That is up 3,000 head from last week and 5,053 head below the same week a year ago.
Aug 24 Live Cattle closed at $181.975, up $0.425,
Oct 24 Live Cattle closed at $179.050, up $0.050,
Dec 24 Live Cattle closed at $178.050, down $0.200,
Aug 24 Feeder Cattle closed at $243.000, down $1.000,
Sep 24 Feeder Cattle closed at $240.575, down $0.675,
Oct 24 Feeder Cattle closed at $239.025, down $0.200,
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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