Live cattle futures posted losses of 12 to 55 cents on Friday, with August up a tick heading into the USDA’s Cattle on Feed report after the close. Cash trade saw some southern action at $182-185, with the bulk at $183 and down $2 on the week. Northern trade was at $288-295 in the beef, centered at $293 and down $5. Feeder cattle futures were up 12 to 60 cents in the front months with deferreds down 35 cents to $1.22. The CME Feeder Cattle Index was down 97cents at $241.70 on August 22.
The USDA Cattle on Feed report showed July placements at 1.702 million head, up 5.85% from a year ago, with marketings at 1.855 million head and 7.72% above 2023. August 1 on feed inventory was up 0.28% from last year at 11.095 million head.
Cold Storage data showed 407.13 million lbs of beef stocks as of July 31, a 0.2% drop from the end of June and 0.81% below last year.
USDA wholesale Boxed Beef were mixed in the Friday afternoon report. Choice boxes were up $1.35 at $317.34, with Select products $1.57 lower @ $300.46. The Chc/Select spread was widened to $16.88. USDA estimated this week’s federally inspected cattle slaughter at 608,000 head. That is up 6,000 head from the previous week but 18,595 head below the same week last year.
Aug 24 Live Cattle closed at $182.575, up $0.025,
Oct 24 Live Cattle closed at $175.700, down $0.200,
Dec 24 Live Cattle closed at $175.200, down $0.325,
Aug 24 Feeder Cattle closed at $242.575, up $0.600,
Sep 24 Feeder Cattle closed at $238.575, up $0.375,
Oct 24 Feeder Cattle closed at $234.375, up $0.125,
On the date of publication, Austin Schroeder 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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