Cattle Weaker on Friday

Cattle Weaker on Friday

Live cattle futures lost ground in afternoon trading, finishing down $.275 to $.750 on the day. Feeder cattle futures declined $.90 to $1.20. The CME Feeder Cattle Index $1.55 cents on August 15 at $137.15 . Wholesale boxed beef prices continued their sharp rise on Labor Day wholesale buying and tight supplies. Choice boxes finished higher again Friday by $ 2.57 to $238.69, with Select boxes $2.59 higher @ $213.26. The USDA estimated the weekly FI cattle slaughter at 651,000 head, 9,000 head more than the previous week, and 8000 head below the same week last year. There were a few live purchases reported in the North, with prices reported at $105-106 live or $172-178 in the meat. Money managers in Live Cattle futures and options trimmed their CFTC net long position by 4355 contracts as of Tuesday at 18, 830 contracts.

AUG 19 Cattle closed at $99.925, down $0.275,

OCT 19 Cattle closed at $98.050, down $0.475,

DEC 19 Cattle closed at $103.525, down $0.750,

AUG 19 Feeder Cattle closed at $134.575, down $1.200

SEP 19 Feeder Cattle closed at $132.375, down $0.925

OCT 19 Feeder Cattle closed at $132.850, down $0.900

-- provided by Brugler Marketing & Management

Market Commentary provided by:

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