Live cattle futures are posting midday losses of $2.12 to $3.30 on Tuesday. Last week’s cash trade saw some $190 live in the North, with $298 sales in the beef, both lower by $3 and $7 on the week. Southern trade saw $185 sales, which was steady to $2 lower on the week.
Feeder cattle futures are $3.77 to $5.50 lower across most contracts on Tuesday. The CME Feeder Cattle Index was down $2.72 at $243.99 on August 16. Monday’s OKC Feeder Cattle auction shows an estimated 4,174 head for sale, below last week and last year. Feeder steers were steady to down $2, with heifers steady. Steer and heifer calves were down $3-6.
USDA wholesale Boxed Beef were lower in the Tuesday morning report. Choice boxes were down $1.89 at $313.66 with Select product 30 cents lower @ $301.71. The Chc/Select spread was thus narrowed to $11.95. USDA estimated Monday’s federally inspected cattle slaughter at 117,000 head. That is up 5,000 head from the previous week and 5,983 head below the same Monday last year.
Aug 24 Live Cattle are at $180.675, down $2.125,
Oct 24 Live Cattle are at $175.550, down $3.475,
Dec 24 Live Cattle are at $175.075, down $3.300,
Aug 24 Feeder Cattle are at $238.600, down $3.775
Sep 24 Feeder Cattle are at $233.850, down $5.425
Oct 24 Feeder Cattle are at $230.850, down $5.025
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.
/Semiconductor%20Chip%20by%20Gorodenkoff%20via%20Shutterstock.jpg)
/Oracle%20Corp_%20office%20logo-by%20Mesut%20Dogan%20via%20iStock.jpg)
