Live cattle are showing slight 7 to 20 cent gains in the front months on Tuesday. Last week’s cash cattle trade centered around $188 in the South, with northern trade at $198. This week’s early activity was mostly just compiling show lists. Feeder cattle are mostly 15 to 45 cent higher, with nearby August down 45 cents. The CME Feeder Cattle Index was up 84 cents on July 12 at $261.88. Monday’s OKC feeder cattle auction showed 6,212 head of calves sold, up nearly 2,000 head from last week. Prices were noted as $4-8 lower, with demand termed moderate.
Pasture conditions were listed at 41% good/ex, a drop of 3% from the week previous. That was a 307 rating on the Brugler500 index (using all 5 USDA ratings categories), an 11-point drop from last week. An average of the major beef cow states shows a 9-point reduction to 340.
USDA wholesale Boxed Beef prices were mixed in the Tuesday afternoon report. Choice boxes were down another $1 to $320.49/cwt, with Select 60 cents higher at $305.42. USDA estimated Monday’s FI slaughter at 118,000 head. That 6,000 head over the same day last week and was 1,532 head below the same Monday last year.
Aug 24 Live Cattle are at $182.200, up $0.075,
Oct 24 Live Cattle are at $183.950, up $0.150,
Dec 24 Live Cattle are at $185.825, up $0.175,
Aug 24 Feeder Cattle are at $258.325, down $0.450
Sep 24 Feeder Cattle are at $259.125, up $0.225
Oct 24 Feeder Cattle are at $258.825, up $0.350
On the date of publication, Alan Brugler 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.
