Cattle Up But Still Seeking Cash Confirmation

Live cattle futures rose $.30 to $.45 in the front months on Thursday. Feeder cattle futures were up 30 to 72.5 cents in the nearby contracts. The CME Cattle Feeder Index for August 7 was up 22 cents from the previous day to $141.83. Wholesale boxed beef prices were mixed on Thursday afternoon. Choice boxes were up $0.24 at $216.73, with Select boxes down $0.29 @ $193.00. USDA estimated week to date FI cattle slaughter at 476,000 head through Thursday, 1,000 head below the previous week and 3,000 ahead of the same week last year. Cash bids of $109 were reported in the South on Thursday, with sales of $113 in the North. Weekly export sales for the week ending August 1 totaled 21,967 MT. Beef 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 Chinese imposed moratorium, and is still to be shipped.

--provided by Brugler Marketing & Management




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