Cattle Up Triple Digits

Front month live cattle futures are trading $0.62 to $1.65 higher through midday. The weekly FCE sold none of the 1,768 head listed, as cash trade for the week remains unestablished. Bids were mostly capped at $137 against $139 asks, though there was a pen of NE steers that went unsold on a $142 bid. Feeder cattle futures are trading $0.40 to $1.07 higher through midday. 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  are at $134.475, up $1.550,

Oct 22 Cattle  are at $139.700, up $1.225,

Dec 22 Cattle  are at $144.975, up $0.925,

Aug 22 Feeder Cattle  are at $172.750, up $0.050

Sep 22 Feeder Cattle  are at $176.500, up $0.400