Live cattle futures are trading with $1.50 to $2.57 losses so far. Cash trade was quiet on Monday, with a few dressed sales of $345 in the north. Feeder cattle futures are falling $4.40 to $4.70 at midday, with August up 12 cents. The CME Feeder Cattle Index was down another $2.53 on August 21 to $338.47. Monday’s weekly OKC feeder cattle auction had 3,324 head sold, with sales on feeders down $4-10 on steers, with some down $15 and $2-8 lower on heifers. Imports from Mexico resumed on Monday via the Douglas, AZ port. On Monday, USDA announce they will open a second port crossing in 30 days.
NASS Crop Progress data showed the US pasture rating at 21% gd/ex, down 2 with the week prior. The Brugler500 index fell 4 points to 252.
Monday’s Cold Storage report showed beef stocks at 382.71 million lbs at the end of July, which was down 3.79% from last year and 1.59% below last month.
Wholesale Boxed Beef prices were higher in the Tuesday AM report, with the Chc/Sel narrowing to $17.64. Choice boxes were unchanged at $388.12, with Select $5.46 higher to $370.48. USDA estimated the Monday Federally inspected cattle slaughter at 98,000 head. That is up 1,000 head from the previous Monday but 10,261 head below the same week last year.
Aug 26 Live Cattle are at $218.575, down $1.500,
Oct 26 Live Cattle are at $211.025, down $2.575,
Dec 26 Live Cattle are at $212.175, down $2.025,
Aug 26 Feeder Cattle are at $333.700, up $0.125
Sep 26 Feeder Cattle are at $319.550, down $4.675
Oct 26 Feeder Cattle are at $313.850, down $4.425
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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