Live cattle futures settled Monday with contracts $2.12 to $2.925 in the red at the close. Cash trade was up $4-5 last week at $228-$230 in the South, with Northern action $8-10 higher wk/wk at $240-241. Feeder cattle fell lower on the Monday session as contracts were down $5.50 to $5.85. Preliminary open interest showed some long liquidation, down 1,946 contracts. The CME Feeder Cattle Index was back down $3.48 to $319.89 on July 11. The weekly OKC feeder cattle auction had an estimated 7,000 head for sale, with price action listed $10-25 higher.
USDA Wholesale Boxed Beef prices continue the weaker pattern in the Monday PM report, with the Chc/Sel spread widening to $12.49. Choice boxes were down $1.57 to $377.07, while Select was quoted $1.91 lower at $364.58 /cwt. USDA estimated cattle slaughter for Monday at 112,000 head. That was 2,000 head below last Monday and 5,427 head lower vs. the same week last year.
Aug 25 Live Cattle closed at $219.350, down $2.850,
Oct 25 Live Cattle closed at $216.775, down $2.925,
Dec 25 Live Cattle closed at $217.450, down $2.125,
Aug 25 Feeder Cattle closed at $319.475, down $5.850,
Sep 25 Feeder Cattle closed at $319.575, down $5.825,
Oct 25 Feeder Cattle closed at $317.700, down $5.500,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
