Live Cattle Futures PricesMon, Aug 3rd, 2015
Latest Brugler Live Cattle Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Live cattle futures are trading $1.27 to $2.50 higher at midday. Feeders are $2.55 to $3.00 higher. We are just over a month away from Labor Day, so many grocery stores around the US will be preparing for the high demand weekend and start filling the pipeline in the next two weeks. CFTC showed on Friday that managed money speculative accounts still held net long positions of 27,466 contracts as of 7/28. Cash cattle trade last week drew prices from $147-$148 in the south, and dressed sales of $232-$234 in the north. The CME Feeder Cattle Index for 7/30 was 17 cents higher to $215.95 this morning. The futures rally is shrinking the basis premium. The morning USDA report has wholesale prices mixed. Choice boxes are 41 cents higher to $233.66, but select boxes are 18 cents lower to $229.11. The midday spread is $4.55.
InsideFutures Meats News