Feeder Cattle Prices Recovering on Wednesday

Live cattle futures ended 35 to 75 cents lower in the front months on Wednesday, with deferred contracts higher. Feeder cattle futures surged, with nearby Aug up the $6.75 expanded limit and back months $4.15 to $5.825 higher. Feeders will show expanded limits for the third consecutive day on Thursday. The CME Feeder Cattle Index was down 12 cents on August 13 at $139.89. On Wednesday, the Choice boxes were up $5.98 at $232.34, with Select boxes $5.34 higher @ $205.92. The Chc/Sel spread widened to $26.42. USDA estimated the week to date FI cattle slaughter at 347,000 head, down 8,000 head from the previous week and 7,000 head below the same week last year. Wednesday’s FCE saw 3 of the 4 lots sold at $105, $5 above August futures. USDA reported light $105 sales in the South, with some cattle exchanging hands at $105-106.50 live and $170-172 dressed in the North. Trade was still light on Wednesday.

AUG 19 Cattle closed at $100.200, down $0.350,

OCT 19 Cattle closed at $98.500, down $0.750,

DEC 19 Cattle closed at $104.550, up $0.600,

AUG 19 Feeder Cattle closed at $134.475, up $6.750

SEP 19 Feeder Cattle closed at $132.825, up $5.625

OCT 19 Feeder Cattle closed at $133.375, up $5.825

--provided by Brugler Marketing & Management




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