Live cattle futures dropped $1 to $1.47 on Monday. Cash trade activity was quiet on August’s FND. USDA reported cash trading picked up on Friday with sales made mostly near $188 in the North and limited volume near $178 to $179 in the South.
Feeder cattle settled with $2.55 to $2.62 losses across the front months. USDA’s OKC Feeder Auction review mentioned decent demand with 6,500 head sold – 42% heifers and 51% over 600lbs. The CME Feeder Cattle Index for 8/3 increased by 90 cents to $245.84.
USDA reported Wholesale Boxed Beef prices were 30 cents weaker in Choice and $1.47 lower in Select on Monday afternoon. USDA estimated Monday’s FI cattle slaughter at 116k head, down from 124k last week and 118k head during the same week last year.
Aug 23 Cattle closed at $179.700, down $1.200,
Oct 23 Cattle closed at $181.425, down $1.475,
Dec 23 Cattle closed at $185.775, down $1.275,
Aug 23 Feeder Cattle closed at $246.975, down $2.550
Sep 23 Feeder Cattle closed at $250.875, down $2.575
Oct 23 Feeder Cattle closed at $252.900, down $2.525
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.
