Live cattle futures fell by 97 cents to $2.67 across most contracts on Friday, with the August contract down $10.77 for the week. Cash markets closed in the north at $238–240 and in the south at $237–238. Feeder cattle futures dropped 65 cents to $2.20 on Friday, with the August contract falling $8.65. The CME Feeder Cattle Index was further reduced by $1.49 on July 16, settling at 364.03.
The Friday Commitment of Traders report indicated that managed funds reduced their net long position by 16,997 contracts in live cattle futures and options, bringing their total to 96,324 contracts. In feeder cattle futures and options, speculators trimmed an additional 3,810 contracts, leaving a net long position of 9,880 contracts as of July 14.
Wholesale boxed beef prices were quoted lower in the evening report. Choice boxes dropped $1.57 to $366.81, while Select boxes fell 40 cents to $355.29. USDA’s Federally inspected cattle slaughter totaled 525,000 head for the week ending Saturday, a decline of 4,000 head from the prior week and 42,470 head below the same week last year.
Recent price close data:
Aug 26 Live Cattle closed at $224.425, down $2.650.
Oct 26 Live Cattle closed at $220.700, down $2.575.
Dec 26 Live Cattle closed at $220.525, down $2.675.
Aug 26 Feeder Cattle closed at $345.950, down $0.650.
Sep 26 Feeder Cattle closed at $339.350, down $1.000.
Oct 26 Feeder Cطلق Cattle closed at $332.825, down $1.625.
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