Cattle Futures’ Rally Continued, Again Led by Feeders

Nearby feeder cattle futures continued their triple digit march higher with Wednesday’s $1.22 to $1.55 gains for the front months taking Sep specifically to the highest levels since late March. Fat cattle futures were also up by 20 to 45 cents on the day. Wednesday’s FCE sale sold just 35 CA Angus/Holstein cross for $140. The rest of the 1,478 head listed went unsold between $136 bids to $139-$140 asks. USDA confirmed cash trade from $136 to $137 in the South and from $144 to $145 higher in the North. The CME Feeder Cattle Index for 7/12 was back up by 96 cents to $172.30.  

USDA’s Wholesale Boxed Beef prices were weaker from the PM report. Choice was $268.05 down by 46 cents and Select was 91 cents lower to $241.26. USDA estimated the WTD cattle slaughter at 377k head through Wednesday. That is 20k head more than the same week last year. 

Aug 22 Cattle  closed at $136.875, up $0.200,

Oct 22 Cattle  closed at $141.275, up $0.000,

Dec 22 Cattle  closed at $147.650, up $0.450,

Aug 22 Feeder Cattle  closed at $180.800, up $1.225

Sep 22 Feeder Cattle  closed at $183.075, up $1.550