Cattle Rally Pushes to Thursday
Live cattle futures posted $2.45 t $2.90 gains across most contracts on Thursday. There were no deliveries issued for August live cattle on Wednesday. Cash trade has yet to kick off this week outside of the $237 in Wednesday’s FCE. Feeder cattle futures continued to push higher on Thursday, as contracts were $3.62 to $6.07 higher, extending to new highs. The CME Feeder Cattle Index was up 76 cents to $336.97 on August 6.
Beef Export Sales data showed a total of 15,921 MT in sales during the week of 7/31, nearly double the previous week. Shipments were 14,049 MT, a 4-week high.
USDA Wholesale Boxed Beef prices continue to see buying ahead of the Labor Day run later this month, with the Chc/Sel spread at $25.19. Choice boxes were up $4.08 at $378.94, while Select was $2.39 higher to $353.75. USDA estimated cattle slaughter for Thursday at 115,000 head, with the weekly total at 447,000 head. That was up 6,000 head from last week but 34,910 head lower vs. the same week in 2024.
Aug 25 Live Cattle closed at $238.750, up $2.450,
Oct 25 Live Cattle closed at $232.225, up $2.575,
Dec 25 Live Cattle closed at $233.625, up $2.900,
Aug 25 Feeder Cattle closed at $348.650, up $3.625,
Sep 25 Feeder Cattle closed at $349.625, up $5.400,
Oct 25 Feeder Cattle closed at $348.475, up $6.075,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.