Cattle Rallying on Friday

Live cattle futures are posting 97 cent to $1.65 gains across the front months on Friday. Cash trade has been slower this week, with some Southern action at $182, down $1-2, with the North steady at $184. The Central Stockyards Fed Cattle Exchange online auction saw no sales on the 1,706 head, with bids of up to $180.182.25. Feeder cattle futures are $1.40 to $2.22 higher so far on the day. The CME Feeder Cattle Index was steady at $242.64 on August 28.

USDA wholesale Boxed Beef prices were higher in the Friday morning report. Choice boxes were up 61 cents at $309.27, with Select products $1.30 lower @ $297.49. The Chc/Select spread narrowed to $11.78. USDA estimated Thursday‘s federally inspected cattle slaughter at 123,000 head, taking the weekly total to 477,000 head. That is down 7,000 head from the previous week and 22,284 head below the same week last year.

Aug 24 Live Cattle  are at $185.850, up $0.975,

Oct 24 Live Cattle  are at $179.250, up $1.350,

Dec 24 Live Cattle  are at $178.350, up $1.650,

Sep 24 Feeder Cattle  are at $241.725, up $2.225

Oct 24 Feeder Cattle  are at $238.575, up $1.900

Nov 24 Feeder Cattle  are at $235.825, up $1.425

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.