Cattle Close Mostly Higher on Thursday

Live cattle futures closed Thursday with most contracts firm to 35 cents higher. Feeder cattle futures were up 27.5 to 60 cents higher. The CME feeder cattle index was up $3.50 @ $139.32 on July 10. Wholesale boxed beef prices were slightly lower again on Thursday afternoon. Choice boxes were down 65 cents at $213.77 with Select boxes 10 cents lower @ $190.79. USDA estimated week to date FI cattle slaughter at 478,000 head. That was 2,000 head above the same week last year. USDA reported a few $182-185 sales in the beef and $114-115 live in the North on Thursday. 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 closed at $107.875, up $0.250,

OCT 19 Cattle closed at $109.325, up $0.350,

DEC 19 Cattle closed at $113.775, up $0.300,

AUG 19 Feeder Cattle closed at $142.625, up $0.275

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

OCT 19 Feeder Cattle closed at $143.425, up $0.600

--provided by Brugler Marketing & Management

Market Commentary provided by:

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