Live Cattle Strengthens, Feeders Weaker on Friday

Live cattle futures were 25 to 65 cents higher in most contracts on Friday. Feeder cattle futures were weighted down by strength in corn, 57.5 cents to $1.025 lower. August feeders were still 2% higher this week. The CME feeder cattle index was up another $1.49 @ $141.08 on July 11. Wholesale boxed beef prices were lower on Friday afternoon. Choice boxes were down 97 cents at $212.80 with Select boxes $1.19 lower @ $189.60. USDA estimated week to date FI cattle slaughter at 655,000 head through Saturday. That was 5,000 head above the same week last year. USDA reported a few $182-185 sales in the beef and $113.5-115 live in the North this week, with the South showing trade of $112 on Friday.

AUG 19 Cattle closed at $108.475, up $0.600,

OCT 19 Cattle closed at $109.975, up $0.650,

DEC 19 Cattle closed at $114.225, up $0.450,

AUG 19 Feeder Cattle closed at $141.600, down $1.025

SEP 19 Feeder Cattle closed at $142.550, down $0.725

OCT 19 Feeder Cattle closed at $142.850, down $0.575

--provided by Brugler Marketing & Management

Market Commentary provided by:

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