Cattle Current Daily-July 14

Cattle Current Daily-July 14

Negotiated cash fed cattle trade continued the week-to-week trend of $2-$3 higher with live sales at mainly $120 and dressed sales at mostly $190.

Feeder Cattle futures extended the previous session’s strong rally, helped along by another strong step down in corn prices. Live Cattle were unable to garner follow-through support.

Live Cattle futures closed from unchanged to mostly narrowly mixed to the downside (7¢ higher to 45¢ lower).

Feeder Cattle futures closed an average of $1.32 higher (85¢ to $2.05 higher). That makes for an average of about $5.50 higher in the last two trading sessions and $5-$8 higher week to week.

Choice boxed beef cutout value was $2.84 lower Thursday afternoon at $209.85/cwt. Select was $1.47 lower at $197.26.

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Major financial indices edged higher on Thursday. Positive news on the day included a statement from super-retailer Target indicating expectations of increased comparable-store sales in the second quarter. That added some lift to the retailer outlook in general.

The Dow Jones Industrial Average closed 20 points higher. The S&P 500 closed 4 points higher. The NASDAQ closed 13 points higher.

2017-07-13T22:52:04-05:00

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