Cattle Collapse Continues to Friday
Live cattle futures are continuing their collapse on Friday, as weaker economic data and losses in the stock market are weighing on things. Contracts are down a nickel in the August, with others down 97 cents to $2.10. Cash trade kicked off Thursday with $188 sales in south and $196 in the North, both $2 lower on the week. This morning’s Central Stockyards Fed Cattle Exchange saw lives bids of $187 in TX. Feeder cattle futures are down $2.75 to $3.70 on the day. The CME Feeder Cattle Index was down 87 cents at $257.82 on July 31.
USDA wholesale Boxed Beef prices were mixed in the Friday morning report. Choice boxes were up 76 cents at $313.55, with Select products 77 cents lower @ $296.96. The Chc/Sel spread widened to $16.86. USDA estimated Thursday’s FI slaughter at 114,000 head, taking the weekly total to 474,000 head. That is down 6,000 head from last week and 19,007 head below the same week a year ago.
Aug 24 Live Cattle are at $184.750, down $0.050,
Oct 24 Live Cattle are at $182.750, down $0.975,
Dec 24 Live Cattle are at $182.500, down $2.100,
Aug 24 Feeder Cattle are at $250.400, down $2.750
Sep 24 Feeder Cattle are at $248.600, down $3.200
Oct 24 Feeder Cattle are at $247.175, down $3.700
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.