Live cattle futures ended the Tuesday session with contracts down $3.20 to $3.50 in most contracts, as August was down $1.77. Cash trade crept in on Tuesday with some southern trade at $183-184 and northern action at $295 in the beef. Last week’s cash trade saw some $190 live in the North, with $298 sales in the beef, with south deals at $185 sales.
Feeder cattle futures were $4.17 to $4.77 lower at the close. The CME Feeder Cattle Index was down 14 cents at $243.85 on August 19. Monday’s OKC Feeder Cattle auction shows an estimated 4,174 head for sale, below last week and last year. Feeder steers were steady to down $2, with heifers steady. Steer and heifer calves were down $3-6.
USDA wholesale Boxed Beef were lower in the Tuesday afternoon report. Choice boxes were down 47 cents at $315.08, with Select products 97 cents lower @ $301.04. The Chc/Select spread was thus widened to $14.04. USDA estimated Tuesday’s federally inspected cattle slaughter at 124,000 head, with the weekly total at 241,000. That is up 7,000 head from the previous week and 6,450 head below the same week last year.
Aug 24 Live Cattle closed at $181.025, down $1.775,
Oct 24 Live Cattle closed at $175.600, down $3.425,
Dec 24 Live Cattle closed at $175.100, down $3.275,
Aug 24 Feeder Cattle closed at $238.200, down $4.175,
Sep 24 Feeder Cattle closed at $234.500, down $4.775,
Oct 24 Feeder Cattle closed at $231.325, down $4.550,
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