Live cattle futures experienced mid-day increases of $1.97 to $3.30 across various contracts on August 1, 2023, with early bids reported at $228, slightly below last week’s trade of $230-231. Feeder cattle futures gained between $2.45 and $5.75, although November contracts showed declines between 45 cents to $1.95. The CME Feeder Cattle Index was down $2.28 to $347.37.
According to USDA’s report, wholesale boxed beef prices rose, with choice boxes up $2.91 to $365.80 and select boxes increasing by 76 cents to $345.92. The federally inspected cattle slaughter on Monday reached 95,000 head, which is a decrease of 7,000 from the previous week and 14,051 head lower than the same week last year. NASS Crop Progress data indicated the U.S. pasture rating remained steady at 29% rated good/excellent.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
