Live cattle futures settled $.67 to $1.87 higher on Tuesday, with nearby August more conservative because of the delivery process (and proximity to southern cash trade) and the 2025 contracts showing the most pop. Cash trade saw $185-187 sales in the South last week, with northern trade down $3 to $193. Early week activity has been mostly just compiling show lists. Feeder cattle futures were given a lift by both higher cattle and lower feed costs, settling $2.07 to $2.67 higher. The CME Feeder Cattle Index was down $0.48 at $245.09 on August 12. Monday’s OKC auction saw cash feeder sales of 5,428 head with prices up $2 to 6 on the week for feeder steers and $10 higher for steer calves. Heifer feeders were firm to up $4, with calves $7-10 higher.
USDA wholesale Boxed Beef were higher in the Tuesday PM report. Choice boxes were up $1.10 at $316.93, with Select product $0.44 higher @ $300.61. The Chc/Select spread was thus $16.32. USDA estimated Tuesday FI slaughter at 122,000 head. That matched last Tuesday but was down 4,000 vs. the same Tuesday a year ago.
Aug 24 Live Cattle closed at $184.000, up $0.675,
Oct 24 Live Cattle closed at $180.750, up $0.725,
Dec 24 Live Cattle closed at $180.300, up $1.350,
Aug 24 Feeder Cattle closed at $246.475, up $2.075,
Sep 24 Feeder Cattle closed at $242.175, up $2.675,
Oct 24 Feeder Cattle closed at $239.925, up $2.200,
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