Cattle Fall Lower into the Weekend

Live cattle futures posted losses of $1.05 to 1.30 on Friday, with nearby August down a nickel. August was still down $4.02 this week. Cash trade picked up this week at $247-248 across the country, a $7-8 drop from last week. Feeder cattle futures saw losses $1.12 to $1.97 on Friday, with August falling $6.025 on the week. The CME Feeder Cattle Index was back down $4.03 on July 9 to $370.42. 

The Friday Commitment of Traders report showed managed money trimming 5,982 contracts from their net long in live cattle futures and options to 113,321 contracts as of Tuesday. In feeder cattle futures and options spec funds were busy cutting back 1,374 contracts from the net long as of July 7 to 13,690 contracts.

Wholesale Boxed Beef prices were higher in the Friday AM report, with the Chc/Sel spread at $14.35. Choice boxes were up $1.87 at $382.68, with Select $4.84 higher to $368.33. USDA’s federally inspected cattle slaughter this week was 529,000 head. That is up 71,000 head from the previous week due to the holiday but 42,565 head below the same week last year.

Aug 26 Live Cattle  closed at $235.200, down $0.050,

Oct 26 Live Cattle  closed at $230.550, down $1.050,

Dec 26 Live Cattle  closed at $230.275, down $1.275,

Aug 26 Feeder Cattle  closed at $354.600, down $1.550,

Sep 26 Feeder Cattle  closed at $351.025, down $1.975,

Oct 26 Feeder Cattle  closed at $347.350, down $1.975,