Cattle Today

07.15 Markets

Cattle

Aug LC day 11 of a buy signal. Oct LC day 11 of a buy signal. Aug FC: day 11 of a buy signal.
Trends are positive live cattle and positive feeder cattle.
Fund selling a profit taking hit the cattle market yesterday.
Live cattle and feeder futures tumbled on Monday in a technical setback from lofty prices
Beef processors saw profit margins turn negative as they paid higher prices for cattle while beef prices declined. Meatpackers were losing $43.20 for each head of cattle they processed on Monday, compared to profits of $73.95 a week ago
Boxed beef down, down almost $20 from the high in 2 weeks.
August cattle support $214-216, resistance $226.
Big discounts of futures to cash remain.
In KS, slaughter cows sold steady while slaughter bulls sold steady to $4 higher. In the feedlot, trade, negotiated live sales sold $1 to $5 higher at $225 to $230. Medium and Large 1 feed steers weighing 752 to 795 pounds brought $324 to $339 with an average price of $334.94. Medium and Large 1 feeder heifers 662 to 698 pounds brought $314 to $335 with an average price of $322.11.
Live weights: 1,411 lbs, 1,412 wk ago, 1,382 yr ago.
Dressed weights: 866 lbs, 865 wk ago, 842 yr ago.
Production: 491.0 mln lbs, 409.0 wk ago, 508.0 yr ago.
Feeder Cattle Index: $319.89 vs $323.37 prior.
Slaughter 112,000, 114,000 wk ago, 117,000 prior.
Boxed Beef: Choice $377.07, -1.57, Select $364.58, -1.91, Ch/Se spread 12.49 Loads 95.

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