Cattle Post Sharp Gains on Wednesday, with Feeders Limit Up

Live cattle futures settled with $1.25 to $2.125 gains on Wednesday. Feeder cattle futures saw limit gains in August, with most other contracts more than $4 higher. The CME feeder cattle index was up 8 cents @ $131.51 on June 25. Wholesale boxed beef prices were mixed on Wednesday afternoon, with the Ch/Se spread widening to $21.14. Choice boxes were up 6 at $219.70 with Select boxes 39 cents lower @ $198.56. USDA estimated week to date FI cattle slaughter at 363,000 through Wednesday. That was 2,000 head larger than last week and 13,000 head more than the same week a year ago. There are a few $107 cash cattle bids out there, with a few asking prices at $110-111 and $182 in the meat. USDA reported a few $180 dressed sales in NE. Both of the lots listed on Wednesday’s FCE auction went unsold.

Jun 19 Cattle closed at $109.000, up $1.250,

Aug 19 Cattle closed at $105.375, up $2.125,

Oct 19 Cattle closed at $106.550, up $1.700,

Aug 19 Feeder Cattle closed at $135.825, up $4.500

Sep 19 Feeder Cattle closed at $136.350, up $4.475

Oct 19 Feeder Cattle closed at $136.725, up $4.425

--provided by Brugler Marketing & Management




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