Cattle Bounce into the End of the Month

Live cattle futures posted gains of 45 to 95 cents on Monday, with August expiring up $1.50 at $220.75. Last week’s cash trade was mostly $220-222 late across the country. Feeder cattle futures saw contracts 50 to 60 cent gains across most contracts. The CME Feeder Cattle Index was down another $3.49 on August 28 to $329.31. The Monday OKC feeder cattle auction had 3,589 head for sale, with sales on feeders steers listed as steady and heifers steady to $5 lower. Calves were seen $8-15 lower.

Monday’s Crop Progress report showed the US pasture rating at 18% gd/ex, down 3 with the week prior. The Brugler500 index fell 7 points to 245.

Wholesale Boxed Beef prices were lower in the Monday morning report, with the Chc/Sel widening to $17.33. Choice boxes were down 41 cents at $375.82, with Select $2.59 lower to $358.49 USDA estimated the Monday Federally inspected cattle slaughter at 104,000 head. That is up 6,000 head from the previous Monday, and well above the same Monday last year (Labor Day).

Oct 26 Live Cattle  closed at $212.675, up $0.950,

Dec 26 Live Cattle  closed at $214.575, up $0.850,

Feb 27 Live Cattle  closed at $216.475, up $0.950,

Sep 26 Feeder Cattle  closed at $321.450, up $0.550,

Oct 26 Feeder Cattle  closed at $317.025, up $0.500,

Nov 26 Feeder Cattle  closed at $310.425, up $0.500,