Cattle Heading Higher on Tuesday

Live cattle futures are showing $1.25 to 1.87 gains in the front months on Tuesday. Cash trade has been relatively quiet so far this week. The Tuesday Central Stockyards Fed Cattle Exchange auction showed no sales on the 1,722 head, with bids ranging from $138-139.50 and asks of $140-142. Feeder cattle bulls are liking the weaker corn stronger fats, with contracts up $2.25 to $3.20 at midday. The CME Feeder Cattle Index was up 76 cents on August 12 to $179.04. 

USDA’s Wholesale Boxed Beef prices were higher in the Tuesday AM report. Choice boxes were up $1.88 to $266.34, with Select $1.09 higher at $240.81. That widened back the Chc/Sel spread to $25.53. USDA estimated Monday’s FI cattle slaughter at 124,000. That is up 5,000 head from last week and 6,000 larger than the same week last year.

Aug 22 Cattle  are at $141.600, up $1.850,

Oct 22 Cattle  are at $145.675, up $1.875,

Dec 22 Cattle  are at $151.175, up $1.450,

Aug 22 Feeder Cattle  are at $182.200, up $2.275

Sep 22 Feeder Cattle  are at $186.200, up $3.200