Live cattle is trading with gains of $1.12 to $2.02 on Tuesday’s midday. Tuesday’s online Fed Cattle Exchange from Central Stockyards showed sales on 923 head of $193-193.25 in TX using their BidTheGrid™ method. The other 2,413 head went unsold, with no live bids offered. Cash trade last week was $198 and a few up to $200 in the north and $190 in the south.
Feeder cattle are rallying $3.00 to $3.72 on the day. The CME Feeder Cattle Index was back down $3 on June 28 at $255.60. Monday’s OKC Feeder Cattle auction saw lighter sales of 2,700 head, with prices up $4-8 and cases of $15 higher
Production was suspended at Cargill’s beef plant in Dodge City, KS, on Monday morning due to a partial roof collapse according to wire sources. The plant expects to resume operations on Friday.
USDA’s Crop Progress report showed US pasture ratings up 1% to 48% gd/ex, with the Brugler500 index up 5 points to 325. The weighted average of the large beef cow states showed a 4 point improvement to 351.
USDA wholesale Boxed Beef prices were again higher in the Tuesday morning report. Choice boxes were up another $1.79 to $330.97/cwt, with Select $1.03 higher at $307.44. The Chc/Select spread widened to $23.53. USDA estimated Monday’s FI slaughter at 115,000 head. That is even with the previous week and well above the same Monday last year.
Aug 24 Live Cattle are at $185.400, up $1.125,
Oct 24 Live Cattle are at $185.425, up $1.275,
Dec 24 Live Cattle are at $187.425, up $1.875,
Aug 24 Feeder Cattle are at $260.850, up $3.475
Sep 24 Feeder Cattle are at $261.150, up $3.200
Oct 24 Feeder Cattle are at $261.175, up $3.000
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