
August fat cattle were 75 cents higher on Monday, syncing up with cash trade. August fats go off the board on Wednesday. The other nearby contracts closed with 15 to 25 cent losses on the day. USDA reported some light $144 cash trade on Monday in the WCB, not enough for a market test. Last week’s confirmed cash trade in the WCB was $145-$148 compared to $142 in the South.
Feeder cattle futures ended Monday’s session with triple digit losses of $2.15 to $2.32. USDA reported cash feeder cattle sales were steady to $4 lower in the OKC auction. Volumes were consistent with last week. Sharply higher feed costs are a concern. The CME’s Feeder Cattle Index was $183.16 on 8/26 after another 91 cent increase.
Wholesale Boxed Beef prices were higher on Monday with a 28 cent increase to $263.04 for Choice and a $3.99 bump to $242.75 for Select. USDA estimated Monday’s FI cattle slaughter at 122k head, down from 125k head last week but still up 5k head from the same Monday last year.
Aug 22 Cattle closed at $141.550, up $0.750,
Oct 22 Cattle closed at $142.900, down $0.150,
Dec 22 Cattle closed at $148.925, down $0.175,
Sep 22 Feeder Cattle closed at $179.925, down $2.275
Oct 22 Feeder Cattle closed at $181.075, down $2.325