Cattle Higher on Friday With Strength from Cash

Live cattle futures saw $1.15 to $1.775 gains in most contracts on Friday with August up 2.54% this week. Cash trade in the South this week was around $109-110, with sales up to $113.50 reported by USDA in NE. Feeder cattle futures were up $1.125 to $2.25 on the day, with August up 1.44% on the week. The CME feeder cattle index was down $1.19 @ $133.21 on July 4. Wholesale boxed beef prices were lower on Friday afternoon. Choice boxes were down $1.58 at $217.67 with Select boxes 56 cents lower @ $194.80. USDA estimated weekly FI cattle slaughter at 573,000 head through Saturday. That was up 3,000 head from the same holiday shortened week last year. Beef export sales of 18,690 MT in the week of June 27 were reported by the USDA this morning. Throughout May, Census recorded 272.334 million lbs of beef exported to all destinations, which was just 0.2% below last years monthly record and 11.8% larger yr/yr. Shipments to South Korea were at a May record 63.186 million lbs.

AUG 19 Cattle closed at $107.000, up $1.550,

OCT 19 Cattle closed at $108.075, up $1.775,

DEC 19 Cattle closed at $112.325, up $1.400,

AUG 19 Feeder Cattle closed at $138.825, up $2.250

SEP 19 Feeder Cattle closed at $138.700, up $1.750

OCT 19 Feeder Cattle closed at $138.900, up $1.300

--provided by Brugler Marketing & Management

Market Commentary provided by:

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