Live cattle futures posted gains across most contracts, with 50 cent to $2.35 gains in the nearbys, with August carrying the load. First Notice day if today for August. August was up $3.65 last week. Preliminary open interest was down 14,967 contracts, mainly due to an exodus in August ahead of FND. 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. The Friday morning Fed Cattle Exchange online auction from Central Stockyards showed $245 sales in IA and CO, with $235 sales in TX.
Feeder cattle futures closed out the Friday session gaining some steam back after the Thursday losses, with contracts up $1.67 to $3.20. August was $3.20 higher on the week. The CME Feeder Cattle Index was up another 98 cents to $335.89 on July 31.
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 again in the Friday afternoon report, with the Chc/Sel spread widening back out to $22.72. Choice boxes were up $1.90 at $364.22, while Select was 87 cents lower to $340.50. 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 closed at $230.125, up $2.350,
Oct 25 Live Cattle closed at $223.675, up $0.525,
Dec 25 Live Cattle closed at $224.425, up $0.500,
Aug 25 Feeder Cattle closed at $334.575, up $3.200,
Sep 25 Feeder Cattle closed at $333.925, up $2.375,
Oct 25 Feeder Cattle closed at $331.850, up $1.675,
