Live cattle futures are trading with front months down a tick to 40 cents on Wednesday, with December up 7 cents. Cash trade has yet to develop this week, with early bids of $186 in the South and $193 in the North. Feeder cattle futures are mixed, with August up 22 cents and other nearbys down 77 cents to $1.05. The CME Feeder Cattle Index was down $1.20 at $255.35 on August 5.
USDA wholesale Boxed Beef were reported lower again in the Wednesday AM report. Choice boxes were down $1.68 at $314.13, with Select products 15 cents lower @ $299.47. The Chc/Sel spread narrowed to $14.66. USDA estimated Tuesday’s FI slaughter at 122,000 head, taking the weekly total to 241,000. That is up 3,000 head from last week and 5,053 head below the same week a year ago.
Aug 24 Live Cattle are at $181.950, down $0.025,
Oct 24 Live Cattle are at $178.650, down $0.400,
Dec 24 Live Cattle are at $178.125, up $0.075,
Aug 24 Feeder Cattle are at $243.225, up $0.225
Sep 24 Feeder Cattle are at $239.800, down $0.775
Oct 24 Feeder Cattle are at $238.175, down $1.050
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