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Austin Schroeder

Cattle Close Higher on Wednesday as Beef Falters

Live Cattle Central Stockyards Fed Cattle Exchange Southern Feeder Cattle United States USDA

Live cattle futures closed out the Wednesday session with contracts up 50 to 70 cents and August down 20. Cash trade saw very light $225 Southern action reported on Tuesday. The Wednesday morning Fed Cattle Exchange online auction from Central Stockyards, showed no sales on the 928 head, with bids of just $220. Feeder cattle futures were up 77 cents to $1.35 on the day.  The CME Feeder Cattle Index was up $5.36 to $316.76 on July 8.

Later in the day, President Trump raised the tariffs on Brazilian goods starting on August 1 to 50%. Brazil has been one of the top exporters of beef to the US so far this year. 

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