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Austin Schroeder

Cattle Look to Thursday Following Wednesday Weakness

Live Cattle Fed Cattle Feeder Cattle

Live cattle futures posted $2.00 to $2.97 losses across the board. Open interest was up 573 contracts. There were no deliveries issued against August futures on Wednesday. Cash trade has been quiet this week, with a few dressed sales at $368. The Wednesday Fed Cattle auction showed no sales on the 1,308 head offered, with a single bid of $365 dressed on one lot in IA. Feeder cattle futures were $3.82 to $6.35 in the red. Open interest was up 386 contracts. The CME Feeder Cattle Index was back up $1.15 on August 11 to $355.37.

Wholesale Boxed Beef prices were higher in the Wednesday afternoon report. Choice boxes were up 97 cents at $372.28, with Select up a penny to $349.81. The Chc/Sel spread widened to $22.47. USDA’s Federally inspected cattle slaughter for Tuesday was estimated at 106,000 head, with the weekly total at 310,000 head. That is up 4,000 head from the previous week but 25,148 head below the same week last year.

Aug 26 Live Cattle closed at $230.575, down $2.175,

Oct 26 Live Cattle closed at $223.800, down $2.525,

Dec 26 Live Cattle closed at $222.800, down $2.900,

Aug 26 Feeder Cattle closed at $346.350, down $3.825,

Sep 26 Feeder Cattle closed at $339.350, down $5.900,

Oct 26 Feeder Cattle closed at $330.400, down $6.300,

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