Cattle Mixed after Monday Trades

Live cattle futures closed mixed. The first three fat cattle futures were down 2 to 37 cents, but the first ’21 expiry contracts gained 10 to 17 cents. Feeder cattle futures closed with triple digit gains, save for Sept which was up 75 cents. The CME Feeder Cattle index for July 10 was $135.17, up by 25 cents. USDA’s ARS’s Cattle Heat Stress shows this week’s stress level in emergency from TX through northern MO. Most of NE and a bit of SD is also in the danger to emergency range. The forecast for the week through Saturday shows emergency stress levels for IA cattle as well. Wholesale boxed beef prices were lower on Monday, widening the Chc/Sel spread to $11.38. Choice boxes were $1.24 lower, and Select boxes fell another $2.41. Choice ribs were quoted at $330.62, which is a $21.72 premium to Select ribs. Select briskets were a $4.18 premium to Choice, at $163.82 and $159.64 respectively. USDA estimated cattle slaughter for Monday at 118,000 head. That is up 3k head wk/wk but down from 120,000 head the same week last year.

Aug 20 Cattle closed at $99.650, down $0.350,

Oct 20 Cattle closed at $104.200, down $0.375,

Dec 20 Cattle closed at $108.375, down $0.025,

Aug 20 Feeder Cattle closed at $137.050, up $1.300

Sep 20 Feeder Cattle closed at $138.075, up $0.750

Oct 20 Feeder Cattle closed at $139.525, up $1.025

--- provided by Brugler Marketing & Management

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