Afternoon Weakness for Fat Cattle

Live cattle futures faded during Tuesday afternoon and ended the day 12 to 32 cents in the red. That limited the gains for the feeders, as futures closed off their highs but still $2.35 to $2.47 in the black. The weekly FCE auction by Central Stockyards sold 255 of the 1,458 head listed. Sales were mostly $138, while the unsold cattle were stuck between $140 asks and $135-$137 bids. USDA confirmed light $138.50 sales in TX. The CME Feeder Cattle Index was $1.61 higher on 6/16 to $162.17. 

Wholesale Boxed Beef prices were stronger in the PM report with Choice up by $1.06 and Select up 31 cents. USDA estimated the week’s FI cattle slaughter at 250k head through Tuesday, down 8k head from the week prior. 

Jun 22 Cattle  closed at $137.825, down $0.200,

Aug 22 Cattle  closed at $136.250, down $0.325,

Oct 22 Cattle  closed at $142.300, down $0.125,

Aug 22 Feeder Cattle  closed at $175.300, up $2.350

Sep 22 Feeder Cattle  closed at $177.275, up $2.475