Live cattle futures responded to Friday’s Cattle on Feed report with Monday gains of 82 cents to $1.325. Last week’s cash trade was 187-188.50 across the south last week, down $1 to 50 cents higher from the previous week. In the north, trade was $196-198, steady to down $2 from the week prior. Feeder cattle futures saw front months post 60 to 80 cent Monday gains. The CME Feeder Cattle Index was down $2.40 on July 19 at $256.67. Monday’s OKC Feeder Cattle auction showed 4,000 head sold, compared to 6,212 head last week and 6,683 head last year, with demand noted as good and price action steady to $4 higher.
USDA wholesale Boxed Beef prices were lower in the Monday PM report, with Choice boxes down another 39 cents to $313.44/cwt and Select products 47 cents lower at $298.33. The Chc/Sel spread is at $15.12. USDA estimated Monday’s FI slaughter at 115,000 head. That was 3,000 head below last week and 7,865 head behind the same Monday last year.
Aug 24 Live Cattle closed at $183.925, up $0.825,
Oct 24 Live Cattle closed at $184.600, up $1.125,
Dec 24 Live Cattle closed at $186.025, up $1.350,
Aug 24 Feeder Cattle closed at $256.400, up $0.800,
Sep 24 Feeder Cattle closed at $256.500, up $0.725,
Oct 24 Feeder Cattle closed at $256.250, up $0.600,
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