Live cattle futures are posting $1.50 to $2.50 losses in the front months. Cash trade has been quiet this week, with a few early light sales at $235. The Wednesday Fed Cattle auction showed no sales on the 1,308 head offered, with a single bid of $365 dressed on one lot in IA. Feeder cattle futures are $3.70 to $5.50 lower. The CME Feeder Cattle Index was back down $1.76 on August 10 to $354.22.
Wholesale Boxed Beef prices were higher in the Wednesday morning report. Choice boxes were up $2.47 at $373.78, with Select up 40 cents to $350.20. The Chc/Sel spread widened to $23.58. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 108,000 head, with the weekly total at 204,00 head. That is up 4,000 head from the previous week but 14,052 head below the same week last year.
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Aug 26 Live Cattle are at $231.000, down $1.750,
Oct 26 Live Cattle are at $224.200, down $2.125,
Dec 26 Live Cattle are at $223.200, down $2.500,
Aug 26 Feeder Cattle are at $346.400, down $3.775
Sep 26 Feeder Cattle are at $340.150, down $5.100
Oct 26 Feeder Cattle are at $331.225, down $5.475
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.
