Live cattle futures closed the Tuesday session with contracts 15 to 90 cents higher on the day. Cash trade has been quiet so far this week, with a few $359 dressed sales creeping in following last week’s $225-228 live and $362-368 dressed action. Feeder cattle futures slipped 75 cents lower in nearby August, with other contracts up 20 to 97 cents. The CME Feeder Cattle Index was down another 88 cents on August 17 to $343.55.
Workers at the Fort Morgan, CO Cargill slaughter facility voted to end a labor dispute that has left the plant down since May after a lockout was initiated. Slaughter is expected to resume on September 7.
Wholesale Boxed Beef prices were higher in the Tuesday afternoon report, widening the Chc/Sel spread back out to $24.86. Choice boxes were up $11.58 at $389.61, with Select $2.03 higher to $366.29. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 106,000 head, taking the total to 203,000 head for the week. That is up 1,000 head from the previous week but 15,217 head below the same week last year.
Aug 26 Live Cattle closed at $224.900, up $0.350,
Oct 26 Live Cattle closed at $218.925, up $0.150,
Dec 26 Live Cattle closed at $219.200, up $0.800,
Aug 26 Feeder Cattle closed at $339.225, down $0.750,
Sep 26 Feeder Cattle closed at $333.350, up $0.400,
Oct 26 Feeder Cattle closed at $326.325, up $0.975,
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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