Cattle Rallying at Midweek
Live cattle futures are up anywhere from 60 cents to $1.75 so far on Wednesday. Cash trade has yet to kick off this week, with sales of $185-187 in the South and with northern trade at $193 last week. The Central Stockyards Fed Cattle Exchange showed no sales on the 944 head listed in today’s online auction, as bids were reported at $185 live and $186-187 using their BidTheGrid™ method. Feeder cattle futures are $2.27 to $2.95 higher at midday. The CME Feeder Cattle Index was down $0.48 at $245.09 on August 12.
USDA wholesale Boxed Beef were mixed in the Wednesday AM report. Choice boxes were down $2.30 at $314.63, with Select product 45 cents higher @ $301.06. The Chc/Select spread was thus narrowed to $13.57. USDA estimated Tuesday FI slaughter at 122,000 head. That matched last Tuesday but was down 4,000 vs. the same Tuesday a year ago.
Aug 24 Live Cattle are at $184.600, up $0.600,
Oct 24 Live Cattle are at $182.375, up $1.625,
Dec 24 Live Cattle are at $182.050, up $1.750,
Aug 24 Feeder Cattle are at $248.750, up $2.275
Sep 24 Feeder Cattle are at $245.275, up $2.950
Oct 24 Feeder Cattle are at $242.725, up $2.800
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.
