On Thursday, front month cattle futures closed 27 to 70 cents higher in the 2020 contracts. The deferred futures were down 12 to 27 cents. There were another 6 tenders against August futures yesterday, MTD deliveries are at 18 contracts. USDA noted light Thursday trading from $103 to $106. The bulk of the week’s trades have been $104-$105 in the South and mostly $104-107 in the North. Dressed sales have been mostly $165-170 so far this week. Feeder cattle futures closed down by 30 to 62 cents on Thursday. 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 PM report, widening the Chc/Sel spread to $13.54. Choice boxes were up $1.86, and Select was $1.42 higher. USDA’s estimates WTD cattle slaughter at 465k head through Thursday. That trails last year by 1,000 head.
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Aug 20 Cattle closed at $107.050, up $0.700,
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Oct 20 Cattle closed at $110.150, up $0.575,
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Dec 20 Cattle closed at $112.825, up $0.275,
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Aug 20 Feeder Cattle closed at $144.950, down $0.300
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Sep 20 Feeder Cattle closed at $147.375, down $0.575
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Oct 20 Feeder Cattle closed at $148.475, down $0.625
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--- provided by Brugler Marketing & Management
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