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




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