Cattle Prices Close Higher

Live cattle futures ended $1.10 to $1.775 higher in Tuesday’s trading. Feeder cattle futures were 45 to 90 cents higher and getting closer to the Index. The CME Feeder Cattle Index was higher by $.91 on August 19 at $137.24. August futures expire on 8/29. Wholesale boxed beef prices were mixed on Tuesday afternoon. Choice boxes were up $2.57 at $241.70, with Select boxes 25 cents lower @ $214.27. A COF pre-report survey of analysts shows an average of estimates of cattle on feed up just 0.8% compared to last August 1. July marketing are seen at 106.4% of last July, with placements up 0.1%. The USDA estimated the week to date FI cattle slaughter thru Tuesday was 231,000 head, the same as the previous week, and 4,000 head below the same week last year.

AUG 19 Cattle closed at $101.800, up $1.600

OCT 19 Cattle closed at $100.000, up $1.775

DEC 19 Cattle closed at $104.825, up $1.100

AUG 19 Feeder Cattle closed at $136.300, up $0.625

SEP 19 Feeder Cattle closed at $133.725, up $0.900

OCT 19 Feeder Cattle closed at $133.650, up $0.475

-- provided by Brugler Marketing & Management

Market Commentary provided by:

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