Cattle Correcting Higher on Friday Following Thursday’s Month End Selling
Live cattle futures are trading with contracts 62 to 70 cents higher in the nearbys, as August is up $2.57 trying to catch the cash market. Cash trade has picked up this week to $235-236 in the South, up $3 to $5 from last week. Northern trade was up $3 to $383 dressed. The Friday morning Fed Cattle Exchange online auction from Central Stockyards showed $245 sales in IA and CO, with $235 sales in TX. Feeder cattle futures are up $1.42 to $2.70 across most contracts at midday, taking back some of Thursday’s weakness. The CME Feeder Cattle Index was up another $1.98 to $335.01 on July 30.
USDA Wholesale Boxed Beef prices were mixed again in the Friday morning report, with the Chc/Sel spread widening back out to $23.55. Choice boxes were up $2.83 at $364.15, while Select was 77 cents lower to $340.60. USDA estimated cattle slaughter for Thursday at 111,000 head, taking the weekly total to 444,000. That was down 4,000 head from last week and 27,849 head lower vs. the same week in 2024.
Aug 25 Live Cattle are at $230.350, up $2.575,
Oct 25 Live Cattle are at $223.850, up $0.700,
Dec 25 Live Cattle are at $224.550, up $0.625,
Aug 25 Feeder Cattle are at $334.075, up $2.700
Sep 25 Feeder Cattle are at $333.525, up $1.975
Oct 25 Feeder Cattle are at $331.600, up $1.425
On the date of publication, Austin Schroeder 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.
