Cattle Fall Triple Digits

Live cattle futures were down by $1.50 to $1.87 on Tuesday after ags mostly fell out of the extended weekend. Feeder cattle futures closed with $1.40 to $1.80 losses on the day. Fat cattle futures are 60 cents to $1 weaker through midday. Feeders are also down by 70 to 90 cents. Cash trade remains unestablished so far for this short week. Central Stockyard’s FCE auction has 1,258 head listed so far for Wednesday. Confirmed cash trade from last week was mostly $137 in the South and $148 in the North. The CME Feeder Cattle Index for 7/1 was down by 33 cents to $165.34. 

Wholesale Boxed Beef prices were mixed this afternoon with Choice 84 cents higher to $264.66 and Select 60 cents weaker to $239.87. were 18 cents weaker in Choice and 10 cents weaker in Select for a $23.35 Chc/Sel spread. USDA estimates FI cattle slaughter at 128k head for the week through Tuesday. That is not comparable to last week due to the 4th, but is down 4k head from the same week last year. 

Aug 22 Cattle  closed at $132.925, down $1.675,

Oct 22 Cattle  closed at $138.475, down $1.500,

Dec 22 Cattle  closed at $144.050, down $1.725,

Aug 22 Feeder Cattle  closed at $172.700, down $1.800

Sep 22 Feeder Cattle  closed at $176.100, down $1.550