Cattle Up Triple Digits

Front month fats are $0.95 to $1.40 higher so far. Gains in Dec contracts are the strongest, trading near $108.07. Feeder cattle futures are also triple digits higher at midday with gains of as much as $1.32. The July 6 Feeder Cattle index was $130.13. Cash cattle sales on Wednesday were mostly at $95, with limited IA and CO activity @ $99-$100. USDA confirmed cash sales this week are mostly $95 so far, with the full range $90-$101.50. From USDA’s weekly Export Sales report, 9,486 MT of beef was sold on the week ending July 2. That was an 8-week low and 56% below the same week last year. Of the week’s sales, 10.5% were to China, but Japan and South Korea were the top purchasers on the week. The week’s 15k MT shipped brought 2020 shipments to 396,923 MT. That is 0.33% above 2019’s total through July 4. Wholesale boxed beef prices were lower again on Thursday morning, widening the Chc/Sel spread to $8.72. Choice boxes were down 45 cents, and Select boxes dropped 86 cents. The week’s cattle slaughter is 354,000 head through Wednesday. That trails last week by 9,000 head and is 3k head below the same week last year.

Aug 20 Cattle are at $100.325, up $1.175,

Oct 20 Cattle are at $104.650, up $1.150,

Dec 20 Cattle are at $108.075, up $1.400,

Aug 20 Feeder Cattle are at $135.300, up $1.250

Sep 20 Feeder Cattle are at $136.775, up $1.100

Oct 20 Feeder Cattle are at $137.900, up $1.125

--- provided by Brugler Marketing & Management




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