Live cattle closed mixed on Friday, with front months up 32 to 50 cent and other contracts down 17 to 42. Cash action has been light so far this week, with sales of $190 reported in the South, steady in the week, and $198 bids reported in the north late on Friday. Feeder cattle were down $1.35 to $2.15, pressured by strength in corn. The CME Feeder Cattle Index was another 61 cents lower on July 4 at $255.08.
Weekly Export Sales data from this morning saw 15,453 MT in beef bookings during the week of 6/27, back down from the previous week. Shipments were 16,063 MT, a 4-week low.
USDA wholesale Boxed Beef prices were higher in the Friday afternoon report. Choice boxes were up 59 cents to $330.43/cwt, with Select 68 cents higher at $305.06. The Chc/Select spread narrowed 7 cents to $25.37. USDA estimated this week’s FI slaughter at 517,000 head. That was slowed from last week due to the holiday and 19,330 head below the same week last year.
Aug 24 Live Cattle closed at $186.425, up $0.500,
Oct 24 Live Cattle closed at $187.175, up $0.325,
Dec 24 Live Cattle closed at $188.775, down $0.075,
Aug 24 Feeder Cattle closed at $261.475, down $1.900,
Sep 24 Feeder Cattle closed at $262.225, down $1.400,
Oct 24 Feeder Cattle closed at $262.225, down $1.300,
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