Cattle Mostly Lower on Friday

Live cattle futures were mostly lower on Friday, with nearby Aug a dime higher. Feeder cattle futures were down 95 cents to $1.425 on the day. The CME Feeder Cattle Index was down 20 cents on August 8 at $141.66. Wholesale boxed beef prices were mixed on Friday afternoon, tightening the Chc/Sel spread to $22.56/cwt. Choice boxes were down $0.51 at $216.37, with Select boxes up $1.44 @ $193.81. USDA estimated week to date FI cattle slaughter at 645,000 head through Saturday, 19,000 head above the previous week and 2,000 head below the same week last year. Cash trade was reported at $113 in the North this week, with $110 in the South. Money managers in Live Cattle futures and options trimmed their net long position by 7,218 contracts as of Tuesday at 23,185 contracts.

AUG 19 Cattle closed at $108.050, up $0.100,

OCT 19 Cattle closed at $106.750, unch,

DEC 19 Cattle closed at $111.450, down $0.175,

AUG 19 Feeder Cattle closed at $138.900, down $0.950

SEP 19 Feeder Cattle closed at $138.450, down $1.425

OCT 19 Feeder Cattle closed at $138.250, down $1.375

--provided by Brugler Marketing & Management

Market Commentary provided by:

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