Cattle Firmer on Weaker Feed

Fat cattle futures ended the first trade day of August with $0.32 to $1.10 gains in the front months. The April ’23 contract was the strongest, now at a $19 premium to August. Feeder cattle also rallied triple digits, closing the day with $1.07 to $1.75 gains. Last week, USDA saw some light to moderate Thursday cattle trade at mostly $138 in NE and $135 in the South, WCB sales were $144-$145 on Friday. The 7/28 CME Feeder Cattle Index was 24 cents weaker to $172.31.

USDA’s Wholesale Boxed Beef prices were stronger Monday, with the spread widening to $27.70. Choice was up $1.36 and Select was 65 cents firmer in the PM report. USDA estimated FI cattle slaughter for Monday at 124k head. That matched last week’s pace and was 7,000 above the same week last year.  

Aug 22 Cattle  closed at $136.775, up $0.325,

Oct 22 Cattle  closed at $142.625, up $0.400,

Dec 22 Cattle  closed at $148.500, up $0.350,

Aug 22 Feeder Cattle  closed at $179.650, up $1.075

Sep 22 Feeder Cattle  closed at $183.100, up $1.550