Cattle Fade Lower to Kick Off August

Live cattle futures were 7 to 72 cents lower across most contracts on Monday, fading early gains. Cash trade was at $232-233 last week, with a few at $235. Early bids surfaced near $233 on Monday, but no volume was reported. Feeder cattle futures saw losses of 20 cents to $2.40.  The CME Feeder Cattle Index was back up $1.06 on July 31 to $346.89. The Monday OKC feeder cattle auction showed 2,662 head sold, with prices listed $5-10 higher on steers and +$5-15 on heifers. Calves were steady on steers, with heifer calves up $10-15.

NASS Crop Progress data showed the US pasture rating at 25% gd/ex, dropping 4% from the week prior. The Brugler500 index fell 11 points to 259.

Wholesale Boxed Beef prices were mixed in the Monday afternoon report. Choice boxes were up $5.35 at $366.73, with Select $1.78 lower to $344.45. USDA’s Federally inspected cattle slaughter for Monday was estimated at 90,000 head. That is down 2,000 head from the previous Monday and 11,616 head below the same week last year.

Aug 26 Live Cattle  closed at $231.100, down $0.650,

Oct 26 Live Cattle  closed at $226.725, down $0.525,

Dec 26 Live Cattle  closed at $226.225, down $0.725,

Aug 26 Feeder Cattle  closed at $347.825, down $0.200,

Sep 26 Feeder Cattle  closed at $342.550, down $1.225,

Oct 26 Feeder Cattle  closed at $333.700, down $1.650,