Cattle Shake off COF Report to Close Mixed

Live cattle futures shook off early losses to close mixed. Net changes from Friday were -47 to +37 cents. Feeder cattle futures were $1.70 to $2.45 lower with the added influence of higher feed prices. Friday afternoon’s Cattle on Feed report indicated June 1 on feed numbers up 1.62% from last year at 11.74 million head. That was the largest June 1 inventory since 1996. May placements were down 2.8% yr/yr, with marketings up 0.68%. The CME feeder cattle index was down 2 cents @ $131.41 on June 21. Wholesale boxed beef prices were mixed this afternoon. Choice boxes were down 8 cents at $219.74 with Select boxes 26 cents higher @ $199.81. USDA estimated Monday FI cattle slaughter was 121,000. That was 1,000 head larger than last Monday and 5,000 head more than the same Monday a year ago.

Jun 19 Cattle closed at $106.925, up $0.375,

Aug 19 Cattle closed at $102.425, up $0.200,

Oct 19 Cattle closed at $104.025, down $0.125,

Aug 19 Feeder Cattle closed at $131.775, down $1.900

Sep 19 Feeder Cattle closed at $132.350, down $1.700

Oct 19 Feeder Cattle closed at $132.600, down $1.900

--provided by Brugler Marketing & Management

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