Feeder Cattle (P) Futures PricesFri, Jul 29th, 2016
Latest Brugler Feeder Cattle (P) Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Live cattle were down 25 to 37.5 cents on Friday, but the front month Aug16 contract was still up $3.125 on the week. Feeders closed 42.5 to 62.5 cents lower on weakness in the cattle and higher feed costs. Aug16 feeders were still up $2.85 from last Friday. The CME Feeder Cattle Index for 7/28 was $1.44 higher to $142.49. Cash cattle trade saw a few live sales from $114 to $116 on Friday, and dressed sales from $184 to $185. The average price of choice boxed beef was down $1.19 on Friday to $197.57 (-2.3% Fri to Fri), and the average price of select boxes was 11 cents lower to $189.60 (-1.4% Fri to Fri). Including Saturday estimates, FI slaughter was 581,000 head, down 14,000 head from last week, but 49,000 head larger than the same week in 2015. As of the close on July 26, managed money held a net long CFTC position in cattle of 28,306 contracts, and a net short feeder position of 3,078 contracts. From Tuesday to Tuesday, the group increased their net long cattle position by 3,929 contracts, and increased their net short feeder position by 121 contracts.
InsideFutures Meats News