Live cattle futures fell $1.85 to $8.22 across the board on Monday. Open interest was down 1,737 contracts mainly in August, with other contracts rising. Cash trade was not reported on Monday, after last week’s drop to $230-231 across the country. Feeder cattle futures collapsed on the border news, with Monday losses of $7.075 to the $10.75 limit. The CME Feeder Cattle Index was down another $2.28 on July 24 to $347.37. Live cattle will have expanded limits of $12.75 today, with feeders at $16.
NASS Crop Progress data showed the US pasture rating at 29% gd/ex, steady with the week prior. The Brugler500 index was down 1 point to 270.
Late on Friday the USDA stated they plan to reopen the border to imports of Mexican cattle in by August 24 at the Douglas, AZ port of entry and two additional ports in NM at a later time.
Wholesale Boxed Beef prices were mixed in the Monday afternoon report. Choice boxes were up $1.65 at $362.89, with Select $1.55 lower to $345.16. USDA’s Federally inspected cattle slaughter for Monday at 95,000 head. That was down 7,000 head from the previous Monday and 14,051 head below the same Monday last year.
Aug 26 Live Cattle closed at $225.225, down $1.850,
Oct 26 Live Cattle closed at $218.775, down $3.725,
Dec 26 Live Cattle closed at $217.400, down $4.875,
Aug 26 Feeder Cattle closed at $338.250, down $7.075,
Sep 26 Feeder Cattle closed at $331.925, down $9.525,
Oct 26 Feeder Cattle closed at $325.250, down $10.750,
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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