Cattle Look to Midweek Trade

Live cattle futures closed the Tuesday session with contracts down 57 cents to 37 cents higher across most contracts. There were no deliveries for August live cattle futures on Tuesday and the oldest long dated April 30. Cash trade was quiet on Monday, though USDA did pick up a few $235 in the North. Feeder cattle futures saw contracts close with 67 cent to $1.15 gains, as August was down 57 cents. The CME Feeder Cattle Index was back down $1.76 on August 10 to $354.22. Monday’s OKC feeder cattle auction showed 2,632 head sold, with feeder steers steady to $5 higher and heifers steady.

NASS Crop Progress data showed the US pasture rating at 25% gd/ex, steady with the week prior. The Brugler500 index was unchanged at 259.

Wholesale Boxed Beef prices were lower in the Tuesday afternoon report. Choice boxes were down 11 cents at $371.31 with Select down $1.04 to $349.80. The Chc/Sel spread widened to $21.51. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 108,000 head, with the weekly total at 204,00 head. That is up 4,000 head from the previous week but 14,052 head below the same week last year.

Aug 26 Live Cattle closed at $232.750, down $0.525,

Oct 26 Live Cattle closed at $226.325, down $0.575,

Dec 26 Live Cattle closed at $225.700, down $0.250,

Aug 26 Feeder Cattle closed at $350.175, down $0.575,

Sep 26 Feeder Cattle closed at $345.250, up $0.675,

Oct 26 Feeder Cattle closed at $336.700, up $0.825,