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Cattle Market Making Gains

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Front month futures are trading triple digits higher with gains of as much as $1.40 so far. Front month feeders are also up by triple digits at midday with gains of $1.07 to $167. June 30 Feeder Cattle index was down another 29 cents to $129.13. USDA reported moderate Wednesday cash activity mostly at $95. On Wednesday, live cash sales went $95-96 in all feeding regions, and dressed sales were $154 to $155. USDA reported beef export sales at 12,326 MT on the week ending June 25. That was down 50% from last week, and down by 34% yr/yr. Beef shipments are back to even with 2019’s pace, as 381,827 MT have been shipped YTD through June 25. Wholesale boxed beef prices started July with more weakness. Choice boxes were down by $1.59 and select boxes were $1.47 lower, narrowing the Chc/Sel spread to $6.95. The WTD estimate for FI cattle slaughter through Wednesday is 363,000 head. That is just 1,000 behind the same week last year.

Aug 20 Cattle are at $98.625, up $1.325,

Oct 20 Cattle are at $101.950, up $1.275,

Dec 20 Cattle are at $105.425, up $0.925,

Aug 20 Feeder Cattle are at $134.150, up $1.075

Sep 20 Feeder Cattle are at $135.450, up $1.425

Oct 20 Feeder Cattle are at $136.325, up $1.425

--- provided by Brugler Marketing & Management

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