Cattle Market Mixed at Midday

Front month cattle futures are up 15 to 60 cents through Dec. The other contracts are UNCH and down a nickel so far. There were another 6 tenders against August futures yesterday, MTD deliveries are at 18 contracts. USDA reported a few $106 to $107 cash trades in IA on Wednesday. So far this week cattle have traded at $104-$105 in the South and mostly $105 in the North. Dressed sales have been mostly $170 so far this week. Feeder cattle futures are mostly lower at midday with a nickel gain for August contracts. The August 11 Feeder Cattle Index from CME rebounded 20 cents to $142.62. Beef export sales from the week ending August 6 were 11,599 MT. That was down 13% wk/wk and 28% below bookings from the same week in 2019. Wholesale boxed beef prices were higher again in the AM report. Choice boxes were up $1.83, and Select was $1.51 higher. USDA’s estimates WTD cattle slaughter at 347k head through Wednesday. That was 1,000 head above last week, and even with the same week last year’s pace.

Aug 20 Cattle are at $106.950, up $0.600,

Oct 20 Cattle are at $110.000, up $0.425,

Dec 20 Cattle are at $112.700, up $0.150,

Aug 20 Feeder Cattle are at $145.300, up $0.050

Sep 20 Feeder Cattle are at $147.600, down $0.350

Oct 20 Feeder Cattle are at $148.650, down $0.450

--- provided by Brugler Marketing & Management

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.