Live cattle managed to close out the Thursday session with 12 to 47 cent gains. Cash action has centered around $188 in the South 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 settled the day with contracts 45 cents to $1.80 higher. The CME Feeder Cattle Index was $3.38 on July 10 at $261.53.
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’s.
USDA wholesale Boxed Beef prices were lower again in the Thursday PM report. Choice boxes were down another $2.40 to $321.65/cwt, with Select 56 cents lower at $303.39. The Chc/Select spread narrowed to $18.27. USDA estimated Thursday’s FI slaughter at 122,000 head, with the WTD total at 475,000 head. That is well above last week’s holiday but down 38,418 head below the same week last year.
Aug 24 Live Cattle closed at $182.250, unch,
Oct 24 Live Cattle closed at $183.500, up $0.300,
Dec 24 Live Cattle closed at $185.050, up $0.250,
Aug 24 Feeder Cattle closed at $256.150, up $1.800,
Sep 24 Feeder Cattle closed at $256.350, up $1.775,
Oct 24 Feeder Cattle closed at $256.100, up $1.300,
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