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:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.