Live cattle futures are closed the session with contracts $2.10 to $3.10 higher on Monday. Open interest was down 2,412 contracts, mainly in the front months. Cash trade has yet to get kicked of this week with Monday compiling showlists. Last week settled in at $238-240 in the north, with Southern trade at $237-238. Feeder cattle futures rallied $4.57 to $7 on the Monday session. Open interest was up 1,447 contracts. The CME Feeder Cattle Index was down another $4.32 on July 17 to $359.71.
The weekly NASS Crop Progress report showed the US pasture rating at 29% gd/ex, down 1% from the week prior. The Brugler500 index was down 6 points to 271.
Wholesale Boxed Beef prices were quoted higher in the Monday PM report. Choice boxes were $3.29 higher at $370.10, with Select up 16 cents to $355.45. USDA’s Federally inspected cattle slaughter for Monday was 106,000. That is up 1,000 head from the previous Monday and 479 head above the same Monday last year.
Aug 26 Live Cattle closed at $226.525, up $2.100,
Oct 26 Live Cattle closed at $223.300, up $2.600,
Dec 26 Live Cattle closed at $223.000, up $2.475,
Aug 26 Feeder Cattle closed at $352.000, up $6.050,
Sep 26 Feeder Cattle closed at $346.250, up $6.900,
Oct 26 Feeder Cattle closed at $339.825, up $7.000,
