Cattle Extending Losses to Friday

Live cattle futures are trading with 80 cent to $1.80 losses at midday. Cash trade kicked off on Thursday at $247-248 across the country, a $7-8 drop from last week. The Friday Fed Cattle Exchange online auction showed $248-248.50 sales on 536 of the 1,356 head. Feeder cattle futures are trading with $2.50 to $2.75 losses on Friday. The CME Feeder Cattle Index was back up $3.70 on July 8 to $374.45. 

Wholesale Boxed Beef prices were higher in the Friday AM report, with the Chc/Sel spread at $14.25. Choice boxes were up $3.09 at $383.90, with Select $6.16 higher to $369.63. USDA’s federally inspected cattle slaughter for Thursday was estimated at 112,000 head, taking the weekly total to 430,000 head. That is down 3,000 from the previous week and 35,480 head below the same week last year.

Aug 26 Live Cattle  are at $234.450, down $0.800,

Oct 26 Live Cattle  are at $229.925, down $1.675,

Dec 26 Live Cattle  are at $229.750, down $1.800,

Aug 26 Feeder Cattle  are at $353.475, down $2.675

Sep 26 Feeder Cattle  are at $350.250, down $2.750

Oct 26 Feeder Cattle  are at $346.825, down $2.500

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.