Cattle Slipping Back on Tuesday

Live cattle futures are showing 65 cent to $1.45 losses on the day. Last week’s cash trade was mostly $220-222 late across the country. Nothing has been reported for this week. Feeder cattle futures are trading with $1.10 to $2 losses at midday. The CME Feeder Cattle Index was down another $3.49 on August 28 to $329.31. The Monday OKC feeder cattle auction had 3,589 head for sale, with sales on feeders steers listed as steady and heifers steady to $5 lower. Calves were seen $8-15 lower.

Monday’s Crop Progress report showed the US pasture rating at 18% gd/ex, down 3 with the week prior. The Brugler500 index fell 7 points to 245.

Wholesale Boxed Beef prices were higher in the Monday afternoon report, with the Chc/Sel at $17.36. Choice boxes were up $2.20 at $378.02, with Select $2.17 higher to $360.66. USDA estimated the Monday Federally inspected cattle slaughter at 104,000 head. That is up 6,000 head from the previous Monday, and well above the same Monday last year (Labor Day).

Oct 26 Live Cattle  are at $212.025, down $0.650,

Dec 26 Live Cattle  are at $213.575, down $1.000,

Feb 27 Live Cattle  are at $215.050, down $1.425,

Sep 26 Feeder Cattle  are at $320.350, down $1.100

Oct 26 Feeder Cattle  are at $315.275, down $1.750

Nov 26 Feeder Cattle  are at $308.425, down $2.000

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