Cattle Close Mixed

Front month live cattle futures gave back midday gains but closed higher. August futures added 55 cents closing at $107.60. Feeder cattle futures ended the session with triple digit losses in August and October. August feeders were still up 0.8% from Friday to Friday. The August 13 Feeder Cattle Index from CME fell back 85 cents to $142.25. Friday cash sales were $106 in the WCB and $168 in the beef. The range of the week’s cash cattle trades has been $104-$107, with dressed sales $165-170. Wholesale boxed beef prices were stronger on Friday, widening the Chc/Sel spread to $14.95. Choice boxes jumped $3.29 higher, and Select boxes were $1.88 stronger to $199.29 cwt. The CFTC noted new buyers for cattle spec traders in the weekly CoT report. Managed money was 45,612 contracts net long as of August 11. In feeders, spec traders were 6,862 contracts net long. USDA’s estimate for WTD cattle slaughter through Saturday is 640k head. That trails the same week last year by 13,000 head.

Aug 20 Cattle closed at $107.600, up $0.550,

Oct 20 Cattle closed at $110.225, up $0.075,

Dec 20 Cattle closed at $112.825, unch,

Aug 20 Feeder Cattle closed at $143.925, down $1.025

Sep 20 Feeder Cattle closed at $146.575, down $0.800

Oct 20 Feeder Cattle closed at $147.425, down $1.050

--- provided by Brugler Marketing & Management




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