Markets

Morning Cattle Market Report

While August cattle showed a measure of strength yesterday, it may take more upside action above Monday's gap lower open to begin to turn the tide. Boxed beef cutout values were up 57 cents at mid-session yesterday and closed 7 cents higher at $179.03. This was up from $177.39 the prior week. News that Nebraska cattle traded at $106.00 this week, $2.00 higher than Texas cattle, may have helped to support. Positive packer profit margins and talk of better consumer demand weather were also viewed as friendly to the cattle market. The estimated cattle slaughter came in at 124,000 head yesterday. This brings the total for the week so far to 384,000 head, up from 382,000 last week at this time but down from 387,000 a year ago.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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