Live cattle are trading 30 to 70 cents higher through the midday session. Cash action has centered around $188 in the South so far this week, with northern trade at $198. Feeder cattle are posting $1.35 to $2.20 gains across the front months on Friday. The CME Feeder Cattle Index was $3.38 on July 10 at $261.53.
USDA wholesale Boxed Beef prices were mixed in the Friday AM report. Choice boxes were back up 51 cents to $322.16/cwt, with Select 21 cents lower at $303.13. The Chc/Select spread narrowed to $18.99. 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 are at $182.625, up $0.375,
Oct 24 Live Cattle are at $184.200, up $0.700,
Dec 24 Live Cattle are at $185.575, up $0.525,
Aug 24 Feeder Cattle are at $258.350, up $2.200
Sep 24 Feeder Cattle are at $257.875, up $1.525
Oct 24 Feeder Cattle are at $257.450, up $1.350
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