Live cattle futures were down 72 cents to $2.65 lower across most contracts on Tuesday. Cash trade picked up a few sales at $218 on Tuesday, down $7-8 from last week, with a few dressed sales of $345 in the north. Feeder cattle futures were down $4.70 to $5.65 across most contrats, with nearby August up 15 cents. The CME Feeder Cattle Index was down another $3.01 on August 24 to $335.46. Monday’s weekly OKC feeder cattle auction had 3,324 head sold, with sales on feeders down $4-10 on steers, with some down $15 and $2-8 lower on heifers. Imports from Mexico resumed on Monday via the Douglas, AZ port. On Monday, USDA announce they will open a second port crossing in 30 days.
NASS Crop Progress data showed the US pasture rating at 21% gd/ex, down 2 with the week prior. The Brugler500 index fell 4 points to 252.
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Wholesale Boxed Beef prices were higher in the Tuesday PM report, with the Chc/Sel narrowing to $19.55. Choice boxes were up $2.84 at $388.53, with Select $3.96 higher to $368.98. USDA estimated Tuesday’s Federally inspected cattle slaughter at 107,000 head, with the weekly total at 205,000 head. That is up 2,000 head from the previous week, but 22,076 head below the same week last year.
Aug 26 Live Cattle closed at $218.100, down $1.975,
Oct 26 Live Cattle closed at $210.950, down $2.650,
Dec 26 Live Cattle closed at $212.125, down $2.075,
Aug 26 Feeder Cattle closed at $333.725, up $0.150,
Sep 26 Feeder Cattle closed at $319.275, down $4.950,
Oct 26 Feeder Cattle closed at $313.325, down $4.950,
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.
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