Live cattle futures are trading 50 to 75 cents higher so far on Monday. Cash trade strengthened last week, near $180 for the South, a $1-$2 gain. The North trade was $1 higher to $183-$185. Feeders are extending last week’s . The 9/07 CME Feeder Cattle Index faded back 12 cents to $249.21.
The USDA Wholesale Boxed Beef report had lower prices for Monday morning. Choice fell by $2.70, and Select was 76c weaker to tighten the spread to $24.91. USDA estimated the week’s FI cattle slaughter at 559k head through Saturday. That is below last week as the increased Saturday still undershot the Monday holiday volumes, and compares to 606k head from the same week last year which also saw a large Sat kill.
Oct 23 Cattle are at $183.475, up $0.250,
Dec 23 Cattle are at $187.650, up $0.225,
Feb 24 Cattle are at $192.050, up $0.350,
Sep 23 Feeder Cattle are at $255.525, up $0.175
Oct 23 Feeder Cattle are at $260.250, up $1.100
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