Cattle Rebounding on Wednesday

Live cattle futures are trading 22.5 cents to $1.225 higher in the front months on Wednesday. Feeder cattle futures are posting strong gains, with nearby Aug up the expanded $6.75 limit. The CME Feeder Cattle Index was down $1.02 on August 12 at $140.08. On Wednesday, the Choice boxes were up $5.05 at $231.41, with Select boxes higher $4.51 @ $205.09. The Chc/Sel spread widened to $26.32. USDA estimated the week to date FI cattle slaughter at 231,000 head, down 6,000 head from the previous week and 5,000 head below the same week last year. Wednesday’s FCE saw 3 of the 4 lots sold at $105, $4 above August futures. Bids outside of the FCE are $105 live and $169-170 dressed so far this week in NE. Asks are around $108 and $175.

AUG 19 Cattle are at $100.975, up $0.425,

OCT 19 Cattle are at $99.475, up $0.225,

DEC 19 Cattle are at $105.175, up $1.225,

AUG 19 Feeder Cattle are at $134.475, up $6.750

SEP 19 Feeder Cattle are at $133.325, up $6.125

OCT 19 Feeder Cattle are at $133.500, up $5.950

---provided by Brugler Marketing & Management

Market Commentary provided by:

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