Live cattle futures are down a nickel to 77 cents early on Monday. First Notice day if today for August. Cash trade was picked up last week to $235-236 in the South, up $3 to $5 from last week, as Northern trade reported at $247, up $2.
Feeder cattle futures are down $1.32 to $1.87 at Monday’s midday after early session gains. The CME Feeder Cattle Index was up another 98 cents to $335.89 on July 31. The Monday OKC feeder cattle auction showed an estimated 6,200 head of feeders for sale, above the week prior.
Managed money trimmed back 3,150 contracts from their net long position as of 7/29, taking it to 128,509 contracts as of Tuesday according to CFTC data. Spec funds were cutting back 2,680 contracts from their previous record net long to 35,126 contracts.
USDA Wholesale Boxed Beef prices were mixed in the Monday morning report, with the Chc/Sel spread widening out to $23.14. Choice boxes were up 15 cents at $363.37, while Select was 27 cents lower to $340.23. USDA estimated cattle slaughter for last week at 535,000 head. That was down 14,000 head from last week and 57,526 head lower vs. the same week in 2024.
Aug 25 Live Cattle are at $230.075, down $0.050,
Oct 25 Live Cattle are at $222.900, down $0.775,
Dec 25 Live Cattle are at $223.825, down $0.600,
Aug 25 Feeder Cattle are at $333.250, down $1.325
Sep 25 Feeder Cattle are at $332.050, down $1.875
Oct 25 Feeder Cattle are at $330.200, down $1.650
