Live cattle futures slipped from the early session highs on Monday, with contracts closing 92 cents higher to 20 cents lower. Cash trade rounded out last week with $225-228 sales in the North and some $228 Southern sales. It has been quiet so far on Monday. Feeder cattle futures closed with contracts $1.60 lower to 40 cents higher. The CME Feeder Cattle Index was back down $4.07 on August 14 to $344.43. The Monday OKC feeder cattle auction saw 2,921 head sold, with feeders down $5-15 and calves down $10 to 20.
NASS Crop Progress data showed the US pasture rating at 23% gd/ex, down 2 with the week prior. The Brugler500 index fell 3 points to 256.
Wholesale Boxed Beef prices were higher in the Monday afternoon report, narrowing the Chc/Sel spread to $15.31. Choice boxes were up $4.27 at $379.57, with Select up $13.02 to $364.26. USDA’s Federally inspected cattle slaughter for Monday was estimated at 97,000 head. That is up 1,000 head from the previous week and 2,983 head below the same week last year.
Aug 26 Live Cattle closed at $224.550, up $0.925,
Oct 26 Live Cattle closed at $218.775, down $0.100,
Dec 26 Live Cattle closed at $218.400, up $0.025,
Aug 26 Feeder Cattle closed at $339.975, down $0.850,
Sep 26 Feeder Cattle closed at $332.950, down $1.600,
Oct 26 Feeder Cattle closed at $325.350, down $0.075,
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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