Live cattle futures closed with contracts down 47 cents to 12 cents higher. Cash trade was at $247-248 across the country, a $7-8 drop from last week. Feeder cattle futures were 20 to 90 cents lower to close the session. The CME Feeder Cattle Index was back up $2.10 on July 9 to $372.52.
The weekly NASS Crop Progress report showed the US pasture rating at 30% gd/ex, down 3% from the week prior. The Brugler500 index was down 11 points to 277.
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Wholesale Boxed Beef prices fell lower in the Monday PM report, with the Chc/Sel spread at $10.44. Choice boxes were down $7.07 at $375.61, with Select 34 cents lower to $365.17. USDA’s Federally inspected cattle slaughter for Monday was at 105,000 head. That is up 5,000 head from the previous Monday but 6,745 head below the same Monday last year.
Aug 26 Live Cattle closed at $234.725, down $0.475,
Oct 26 Live Cattle closed at $230.625, up $0.075,
Dec 26 Live Cattle closed at $230.400, up $0.125,
Aug 26 Feeder Cattle closed at $354.350, down $0.250,
Sep 26 Feeder Cattle closed at $350.825, down $0.200,
Oct 26 Feeder Cattle closed at $346.850, down $0.500,
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.
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