Live cattle futures are continuing the Tuesday session with contracts up $2 to $2.70 at midday. Cash trade has yet to get kicked off this week, with last week’s cash sales at $182-185 in the south, with northern trade at $184-188.
Feeder cattle futures are up $1.30 to $2 at midday, with August down 37 cents and getting closer to Thursday’s expiration. The CME Feeder Cattle Index was up $1.13 at $242.83 on August 23. The Monday OKC Feeder Cattle Auction saw sales on 5,908 head, above last year and the previous week. Demand was listed as moderate to good, with prices steady to $2 lower on steers and heifers steady.
USDA wholesale Boxed Beef were back higher in the Tuesday morning report. Choice boxes were up 38 cents at $316.28, with Select products $3.48 higher @ $303.67. The Chc/Select spread was narrowed to $12.61. USDA estimated Monday’s federally inspected cattle slaughter at 116,000 head. That is down 1,000 head from the previous week and 9,036 head below the same Monday last year.
Aug 24 Live Cattle are at $185.600, up $2.000,
Oct 24 Live Cattle are at $179.600, up $2.625,
Dec 24 Live Cattle are at $178.800, up $2.425,
Aug 24 Feeder Cattle are at $244.125, down $0.375
Sep 24 Feeder Cattle are at $242.650, up $1.300
Oct 24 Feeder Cattle are at $239.325, up $1.850
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
