Live cattle futures are trading with contracts down a dime to 50 cents higher at midday. There were no deliveries issued on first notice day for August live cattle futures. Cash trade was quiet on Monday, though USDA did pick up a few $235 in the North. Feeder cattle futures are posting midday gains of $1 to $1.30 on Tuesday. The CME Feeder Cattle Index was back down $1.38 on August 6 to $355.98. Monday’s OKC feeder cattle auction showed 2,632 head sold, with feeder steers steady to $5 higher and heifers steady.
NASS Crop Progress data showed the US pasture rating at 25% gd/ex, steady with the week prior. The Brugler500 index was unchanged at 259.
Wholesale Boxed Beef prices were lower in the Tuesday morning report. Choice boxes were down $1.04 at $370.38 with Select down 65 cents to $350.19. The Chc/Sel spread narrowed to $20.19. USDA’s Federally inspected cattle slaughter for Monday was estimated at 96,000 head. That is up 6,000 head from the previous Monday but 6,323 head below the same week last year.
Aug 26 Live Cattle are at $233.175, down $0.100,
Oct 26 Live Cattle are at $227.000, up $0.100,
Dec 26 Live Cattle are at $226.425, up $0.475,
Aug 26 Feeder Cattle are at $350.375, down $0.375
Sep 26 Feeder Cattle are at $345.575, up $1.000
Oct 26 Feeder Cattle are at $337.175, up $1.300
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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