Live cattle futures are posting mixed trade on Monday with contracts 22 cents lower to 50 cents higher. Last week’s cash trade saw some $190 live in the North on Thursday, with $298 sales in the beef, both lower by $3 and $7 on the week. Southern trade kicked off on Friday with $185 sales, which is steady to $2 lower on the week. Feeder cattle futures are down 20 to 50 cents so far on the Tuesday session. The CME Feeder Cattle Index was up 37 at $246.71 on August 15. Today’s OKC Feeder Cattle auction shows an estimated 4,200 head for sale, below last week and last year. Demand so far has been noted as moderate to good.
Commitment of Traders data indicated spec longs liquidating in the week that ended on August 13 by 8,910 contracts to a net long 44,892 contracts by that Tuesday.
USDA wholesale Boxed Beef were lower in the Monday morning report. Choice boxes were down 70 cents at $316.75 with Select product 78 cents lower @ $301.81. The Chc/Select spread was thus widened to $14.94. USDA estimated last week’s federally inspected cattle slaughter at 602,000 head. That is up 11,000 head from the previous week and 14.735 head below the same week last year.
Aug 24 Live Cattle are at $182.575, down $0.225,
Oct 24 Live Cattle are at $178.800, up $0.500,
Dec 24 Live Cattle are at $178.225, up $0.100,
Aug 24 Feeder Cattle are at $242.225, down $0.550
Sep 24 Feeder Cattle are at $238.975, down $0.525
Oct 24 Feeder Cattle are at $235.650, down $0.300
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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