Cash Cattle Market Begins August With A Rally

.
.
(Shelby Chesnut)

Cattle markets reversed a month-long lower trend with decent gains in all regions. Trade in the North was called moderate at mostly $140 to $144 per cwt. live and $225 to $232 dressed, steady to $2 higher. Cattle in the south traded at $135 to $136, steady to $1 higher.

CME futures took out their June and July highs on Thursday, and expiring August live cattle futures ended the week rising 17.5 cents to $137.875, while most-active October gained 22.5 cents to $143.875. The October close marked a $2.55 weekly advance. September feeder futures advanced 85 cents and settled at $183.425, up $1.875 on the week.

Cash market gains this week suggests the upward price pressure will persist through mid-August. Grocers will accelerate their wholesale beef purchases as they prepare for beef features for Labor Day, and cash and futures are expected to work higher.

Estimated weekly slaughter was 651,000 compared to 644,342 last year. Year-to-date slaughter was estimated at 20.125 million, up 1.2% from last year.

Wholesale beef prices moved lower on the week. Friday’s Choice boxed beef closed at $263.88 per cwt., down $5.36 from last week. Select closed at $238.67 per cwt., down $3.58.

Feeder cattle were called $2 to $6 higher and calves $1 to $5 higher. Slaughter cows traded steady to $7 higher.

 

Latest News

AFIA Objects to EPA’s Draft Risk Evaluation of Formaldehyde
AFIA Objects to EPA’s Draft Risk Evaluation of Formaldehyde

The American Feed Industry Association says formaldehyde has been "safely used in the U.S. animal food industry for over 40 years via accurate automated equipment."

Power of Meat Reports Strong Meat Consumption, Evolving Consumer Trends
Power of Meat Reports Strong Meat Consumption, Evolving Consumer Trends

The Meat Institute and FMI-The Food Industry Association released the 19th annual Power of Meat report.

Cattle Imports from Mexico
Cattle Imports from Mexico

Mexico has become one of the major beef import sources for the U.S. as beef trade evolved from simply supplementing deficit beef production in Mexico to bilateral, product specific trade between the two countries.

Markets: Cash Cattle Markets Nearing Historic Highs
Markets: Cash Cattle Markets Nearing Historic Highs

All classes of cattle sold at higher prices for the week and most are at or near record highs. Supplies of all classes remain extremely tight.

International Genetic Solutions Debuts New Informational Resource
International Genetic Solutions Debuts New Informational Resource

International Genetic Solutions (IGS) recently unveiled a new information resource and video platform for important beef industry topics pertinent to producers’ bottom lines.

Sage_Grouse_Booming
Ranchers Urge BLM to Incorporate Latest Science in New Sage Grouse Plans

NCBA and PLC are requesting that BLM significantly extend the comment period deadlines while ranchers and other local stakeholders evaluate these lengthy proposals.