Live cattle are posting 45 cent to $1.10 losses at midday. Cash trade was slow to develop last week, with light trade of $198 and a few up to $200 in the north and $190 in the south. Feeder cattle are showing midday losses of $1.55 to $1.90 so far. The CME Feeder Cattle Index was back down 44 cents on June 27 at $258.60.
Production was suspended at Cargill’s beef plant in Dodge City, KS, this morning due to a partial roof collapse according to wire sources. No timeline was given on when operations will resume.
USDA wholesale Boxed Beef prices shot higher in the Monday AM report. Choice boxes were up another $3.56 to $329.88/cwt, with Select $2.36 higher at $306.86. The Chc/Select spread widened to $23.02. USDA estimated last week’s FI slaughter total at 609,000 head. That is down 11,000 head from the previous week and 41,573 below the same week last year.
Aug 24 Live Cattle are at $184.325, down $1.100,
Oct 24 Live Cattle are at $184.000, down $0.875,
Dec 24 Live Cattle are at $185.450, down $0.450,
Aug 24 Feeder Cattle are at $257.425, down $1.875
Sep 24 Feeder Cattle are at $258.075, down $1.575
Oct 24 Feeder Cattle are at $258.325, down $1.675
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