Cattle Bouncing Back Higher on Tuesday
Live cattle futures are up $1.97 to $3.30 across most contracts at midday. Early bids of $228 are being reported which is just slightly lower than the $230-231 trade from last week. Feeder cattle futures are showing front month gains of $2.45 to $5.75, with November and beyond down 45 cents to $1.95. The CME Feeder Cattle Index was down another $2.28 on July 24 to $347.37. Live cattle will have expanded limits of $12.75 today, with feeders at $16.
NASS Crop Progress data showed the US pasture rating at 29% gd/ex, steady with the week prior. The Brugler500 index was down 1 point to 270.
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Wholesale Boxed Beef prices were higher in the Tuesday morning report. Choice boxes were up $2.91 at $365.80, with Select 76 cents higher to $345.92. USDA’s Federally inspected cattle slaughter for Monday at 95,000 head. That was down 7,000 head from the previous Monday and 14,051 head below the same Monday last year.
Aug 26 Live Cattle are at $227.200, up $1.975,
Oct 26 Live Cattle are at $221.400, up $2.625,
Dec 26 Live Cattle are at $220.700, up $3.300,
Aug 26 Feeder Cattle are at $343.825, up $5.575
Sep 26 Feeder Cattle are at $337.375, up $5.450
Oct 26 Feeder Cattle are at $327.700, up $2.450
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
