Live cattle futures are slightly lower on Monday, with contracts steady to 25 cents lower. Last week’s cash cattle changed hands at $144-148 in the north, up $4-5 on the week, with some $229-235.50 in the beef. Trade also rallied in the South to $140 last week. Feeders are trying to capitalize on the corn weakness, with gains of 10 to 60 cents. The CME Feeder Cattle Index was up 22 cents on August 11 to $178.28.
USDA’s Wholesale Boxed Beef prices were higher in the Monday morning report. Choice boxes were up 14 cents to $263.51, with Select 22 cents higher at $239.81. That narrowed the Chc/Sel spread to $23.70. USDA estimated last week’s FI cattle slaughter at 647,000 through Saturday. That was down just 4,000 head from last week on lighter Saturday kill but up 11,000 head from the same week last year.
Aug 22 Cattle are at $140.225, down $0.000,
Oct 22 Cattle are at $144.400, down $0.100,
Dec 22 Cattle are at $150.375, down $0.250,
Aug 22 Feeder Cattle are at $180.000, up $0.375
Sep 22 Feeder Cattle are at $183.975, up $0.600
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