Cattle

Live cattle futures posted 60 cent to $1.35 gains on Thursday. Feeder cattle futures were steady in the back months to $1.625 higher in the nearby contracts. The CME feeder cattle index was up $2.08 from the previous day at $147.16 on 7/11. Wholesale boxed beef values were lower on Thursday afternoon. Choice boxes were down 86 cents to $206.58, while Select boxes were 13 cents lower at $197.01. USDA estimated FI cattle slaughter through Thursday at 479,000 head, up 8,000 the same week last year. Cash bids of $108 were shown for Thursday, with few if any sales reported. All beef export sales in the week of 7/5 rose to 16,226 MT, with shipments shown at 15,285 MT. The USDA showed total US beef consumption in 2018 up 25 million pounds to 27.15 billion in their months S&D update.

Aug 18 Cattle closed at $105.025, up $1.175,

Oct 18 Cattle closed at $107.600, up $1.350,

Dec 18 Cattle closed at $111.575, up $0.900,

Aug 18 Feeder Cattle closed at $151.025, up $1.625

Sep 18 Feeder Cattle closed at $150.975, up $1.550

Oct 18 Feeder Cattle closed at $151.275, up $1.325




Market Commentary provided by:

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