Cattle Higher by Tuesday’s Close, PM Beef Print Falls
Live cattle futures battled back into the close to post gains of 30 to 80 cents across the board on Tuesday. Last week’s cash cattle trade centered around $188 in the South, with northern trade at $198. This week’s early activity was mostly just compiling show lists. Feeder cattle futures rose 50 to 80 cents higher on the Tuesday session. The CME Feeder Cattle Index was down 51 cents on July 15 at $261.37.
USDA wholesale Boxed Beef prices were lower in the Tuesday afternoon report. Choice boxes were down another $2.23 to $319.26/cwt, with Select $3.23 lower at $301.59. USDA estimated Tuesday’s FI slaughter at 121,000 head, taking the weekly total to 239,000. That 7,000 head over last week but was 7,774 head below the same week last year.
Aug 24 Live Cattle closed at $182.675, up $0.550,
Oct 24 Live Cattle closed at $184.525, up $0.725,
Dec 24 Live Cattle closed at $186.450, up $0.800,
Aug 24 Feeder Cattle closed at $258.625, down $0.150,
Sep 24 Feeder Cattle closed at $259.525, up $0.625,
Oct 24 Feeder Cattle closed at $259.250, up $0.775,
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.
