Live cattle futures are down another $1.30 to $1.90 at midday, to extend the losses. Cash trade has yet to get kicked off this week, with a few light northern sales of $378-380 dressed, $10-15 lower. Live action has been reported at $240 so far. Feeder cattle futures are trading with 75 cent to $1.80 losses in most contracts, with August up 95 cents. The CME Feeder Cattle Index was back up $2.10 on July 13 to $370.32.
Wholesale Boxed Beef prices were lower in the Wednesday AM report, with the Chc/Sel spread at $11.38. Choice boxes were down 49 cents at $373.46, with Select $2.33 lower to $362.08. USDA’s Federally inspected cattle slaughter for Tuesday was at 111,000 head, with the week to date total at 216,000 head. That is up 6,000 head from the previous week but 14,541 head below the same week last year.
Aug 26 Live Cattle are at $230.125, down $1.300,
Oct 26 Live Cattle are at $225.800, down $1.850,
Dec 26 Live Cattle are at $225.400, down $1.900,
Aug 26 Feeder Cattle are at $349.750, up $0.950
Sep 26 Feeder Cattle are at $344.100, down $0.750
Oct 26 Feeder Cattle are at $338.750, down $1.775
