The feeder cattle futures market ended the day off the lows, but still $1.80 to $2.67 in the red. Fat cattle futures were mixed as the 2024 delivery months were stronger by 32 to 87 cents but the nearby contracts dropped triple digits. USDA reported light catch up sales from $188-$190 in the North on Monday. The OKC Feeder Auction review showed 6,700 head were sold, with 49/47% steer/heifers and 36% above 600#s. The CME Feeder Cattle Index was 65 cents weaker on 7/19 at $237.83.
USDA reported Wholesale Boxed Beef prices were up $1.42 in Choice and 26 cents for Select in this afternoon’s update. USDA estimated Monday’s federally inspected cattle slaughter at 126k head, up 6k from last week and 3,000 higher than the same week last year. That is down from 633k last week and from 663k during the same week last year.
Aug 23 Cattle closed at $178.750, down $1.275,
Oct 23 Cattle closed at $180.300, down $1.600,
Dec 23 Cattle closed at $184.325, down $0.850,
Aug 23 Feeder Cattle closed at $243.250, down $2.675
Sep 23 Feeder Cattle closed at $246.625, down $2.650
Oct 23 Feeder Cattle closed at $248.675, down $2.325
On the date of publication, Alan Brugler 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.
