Live cattle are seeing some recovery on Thursday, with contracts down 15 cent to 22 cents higher at midday. Cash action was reported at $188-191 sales in Kansas and $188 in Texas so far this week, with northern trade at $198. Thursday’s Central Stockyards Fed Cattle Exchange showed sales of $191 in TX using their BidTheGrid™ method. Feeder cattle are up 30 ents to $1.05. The CME Feeder Cattle Index was back up 82 cents on July 9 at $258.15.
A total of just 8,348 MT of beef was sold for export in the July 4th holiday week according to the Export Sales report, a MY low. Shipments were the lowest since mid-April at 14,288 MT
USDA wholesale Boxed Beef prices were lower again in the Thursday morning report. Choice boxes were down another 68 cents to $323.37/cwt, with Select 70 cents lower at $303.24. The Chc/Select spread was listed at $20.13. USDA estimated Wednesday’s FI slaughter at 122,000 head, with the WTD total at 354,000 head. That is up 1,000 head from the previous week and 23,875 head below the same week last year.
Aug 24 Live Cattle are at $182.100, down $0.150,
Oct 24 Live Cattle are at $183.375, up $0.175,
Dec 24 Live Cattle are at $184.900, up $0.100,
Aug 24 Feeder Cattle are at $255.275, up $0.925
Sep 24 Feeder Cattle are at $255.450, up $0.875
Oct 24 Feeder Cattle are at $255.275, up $0.475
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.
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