Live cattle futures are posting some strength on Friday, with contracts up $2 to $3 at midday. Cash trade saw some $185-187 to sales in the South this week, with northern trade has slipped $3 to $193 so far this week. Feeder cattle futures are rallying $3.40 to $4.60 on the Friday session. The CME Feeder Cattle Index was down $1.88 at $252.84 on August 7.
USDA wholesale Boxed Beef were back higher in the Friday morning report. Choice boxes were up $1.43 at $313.55, with Select products 84 cents higher @ $298.87. The Chc/Sel spread widened to $14.68. USDA estimated Thursday’s FI slaughter at 121,000 head, taking the weekly total to 484,000. That is up 10,000 head from last week and 8,733 head below the same week a year ago.
Aug 24 Live Cattle are at $184.325, up $2.275,
Oct 24 Live Cattle are at $180.750, up $2.725,
Dec 24 Live Cattle are at $179.125, up $2.400,
Aug 24 Feeder Cattle are at $246.075, up $3.700
Sep 24 Feeder Cattle are at $241.100, up $3.675
Oct 24 Feeder Cattle are at $239.400, up $3.400
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