Cattle Mixed at Midday

Live cattle futures are mixed in most contracts, with front months higher and deferred contracts lower. Feeder cattle futures are up 25 to 52.5 cents at midday. The CME feeder cattle index was up 32 cents @ $135.76 on July 9. Wholesale boxed beef prices were slightly lower again on Thursday morning. Choice boxes were down 24 cents at $214.18 with Select boxes 3 cents lower @ $190.86. USDA estimated week to date FI cattle slaughter at 360,000 head. That was 5,000 below last week and 4,000 head above the same week last year. Cash trade has yet to develop this week, with light bids of $180-$182 being reported in the North and $109 in the South. Beef export sales for the July 4 week were 21,458 MT, with Shipments of 14,912 MT. USDA showed a 75 million lb reduction to 2019 US beef production to 27.129 billion lbs, with most of that loss in the 3rd and 4th quarters. Production for 2020 was left UNCH at 27.42 billion lbs.

AUG 19 Cattle are at $107.875, up $0.250,

OCT 19 Cattle are at $109.175, up $0.200,

DEC 19 Cattle are at $113.600, up $0.125,

AUG 19 Feeder Cattle are at $142.875, up $0.525

SEP 19 Feeder Cattle are at $143.275, up $0.425

OCT 19 Feeder Cattle are at $143.375, up $0.550

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

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