Cattle Higher on Thursday

Live cattle futures are up 30 to 50 cents in most contracts on Thursday. Feeder cattle futures are 60 to 65 cents higher in the front months. Wholesale boxed beef prices were higher Thursday midday. Choice boxes are up $0.24 at $216.73, with Select boxes up $0.29 @ $193.00. USDA estimated week to date FI cattle slaughter at 355,000 head through Wednesday, 1,000 head below the previous week and even with the same week last year. Bids of $109 are still being reported in the South on Thursday, with a few sales of $113 in the North. Weekly export sales data shows 21,967 MT of beef sold for export in the week of August 1. Shipments were tallied at 18,185 MT for that week. China purchased 655 MT, their largest 1-week beef purchase since 2015. This was right ahead of the moratorium, and is still to be shipped.

AUG 19 Cattle are at $107.900, up $0.300,

OCT 19 Cattle are at $106.750, up $0.300,

DEC 19 Cattle are at $111.500, up $0.325,

AUG 19 Feeder Cattle are at $140.150, up $0.600

SEP 19 Feeder Cattle are at $140.025, up $0.650

OCT 19 Feeder Cattle are at $139.525, up $0.625

Market Commentary provided by:

Brugler Marketing & Management LLC
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