Cattle Futures Rallying on Cheaper Feed

Fat cattle futures are trading with triple digit gains of $0.97 to $2.70. USDA reported TX cash trade was mostly $1 lower to $137, while the limited Northern sales went $146 to $150. Feeder cattle are extending their cheap corn rally with $1.17 to $1.95 gains so far. The 6/29 CME Feeder Cattle Index was $2.36 higher to $166.44.   

Wholesale Boxed Beef prices were mixed this morning with Choice 47 cents weaker at $263.53 and Select 3 cents firmer to $240.60 cwt. Federally inspected cattle slaughter is figured at 499k head for the week through Thursday. That’s 1,000 head more than last week and up by 12k head yr/yr. 

Aug 22 Cattle  are at $135.175, up $2.600,

Oct 22 Cattle  are at $140.550, up $1.775,

Dec 22 Cattle  are at $146.275, up $1.400,

Aug 22 Feeder Cattle  are at $174.700, up $1.100

Sep 22 Feeder Cattle  are at $177.775, up $1.550