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Cattle in Black at Close

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Cattle futures head into the weekend on a triple digit Friday gain. For August futures the $1.10 rally on Friday added to the weekly gain, pushing it to $1.50. August feeders were $2.62 higher wk/wk, as the front months closed the Friday session with $1.65 to $2.25 gains. The July 29 CME Feeder Cattle index was $138.58, down 68 cents from the day prior. Cash sales this week were $95 to $102, with the bulk of Southern activity near $97 and the Northern trade mostly at $100. Dressed sales were a bit light this week from $158 to $161, mostly at $160. The CFTC showed cattle spec traders were 3,949 contracts more net long, to 33,622 on July 28. Also from the CoT, managed money funds were net buyers of feeder cattle as well. On net, managed money was 991 contracts more long for the week at 5,453 contracts. Wholesale boxed beef prices were mixed in the PM update, widening the Chc/Sel spread to $13.37. Choice boxes were up $1.46 to $203.26, and Select boxes were $1.61 lower. USDA estimates the week’s FI cattle slaughter at 638,000 head through Saturday. That exceeds the same week last year by 5,000 head.

Aug 20 Cattle closed at $102.825, up $1.100,

Oct 20 Cattle closed at $107.875, up $1.125,

Dec 20 Cattle closed at $111.550, up $1.100,

Aug 20 Feeder Cattle closed at $144.675, up $1.650

Sep 20 Feeder Cattle closed at $146.225, up $1.800

Oct 20 Feeder Cattle closed at $146.650, up $2.125

--- provided by Brugler Marketing & Management

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