Cattle Push Lower on Tuesday
Live cattle futures posted losses of 10 to 67 cents on the day. Cash was picked up last week at $403 dressed in the north, with live trade at $255-256. Southern trade was $255. Feeder cattle futures were mixed, with August up 15 cents and other contracts down 47 cents to $2.85 at the close. The CME Feeder Cattle Index was back up $2.08 on July 6 to $373.19.
The weekly NASS Crop Progress report showed the US pasture rating at 33% gd/ex, down 1% from the week prior. The Brugler500 index was up 3 points to 288.
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Wholesale Boxed Beef prices were mixed in the Tuesday afternoon report, with the Chc/Sel spread at $19.88. Choice boxes were down 71 cents at $385.77, with Select 2 cents higher to $365.89. USDA’s federally inspected cattle slaughter for Tuesday was estimated at 110,000 head, taking the weekly total to 210,000 head. That was down 4,000 from the previous week and 21,970 head below the same week last year.
Aug 26 Live Cattle closed at $238.425, down $0.675,
Oct 26 Live Cattle closed at $234.025, down $0.625,
Dec 26 Live Cattle closed at $234.000, down $0.475,
Aug 26 Feeder Cattle closed at $360.650, up $0.150,
Sep 26 Feeder Cattle closed at $357.400, down $0.475,
Oct 26 Feeder Cattle closed at $353.775, down $1.025,
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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