Cattle Current Daily—June 28, 2019

Cattle Current Daily—June 28, 2019

Cattle futures held on to most of the previous session’s gains, but closed marginally lower Thursday.

Except for $1.57 higher in expiring Jun, Live Cattle futures closed an average of 30¢ lower.

Feeder Cattle futures closed an average of 48¢ lower.

Grains mainly tread water Thursday, ahead of Friday’s much-anticipated Stocks and Acreage reports from USDA.

Corn futures closed 2¢ to 3¢ lower through Jul ’20 and then mostly fractionally higher.

Soybean futures closed mostly 3¢ to 6¢ lower through Aug ’20 and then unchanged to fractionally higher.

Wholesale beef values were weak to lower on light to moderate demand and offerings, according to the Agricultural Marketing Service.

Choice boxed beef cutout value was 67¢ lower Thursday afternoon at $219.03/cwt. Select was $1.66 lower at $196.90.

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Major U.S. financial indices closed narrowly mixed again Thursday, as investors await clues from the meeting scheduled between President Trump and China’s leader at the G20 Summit.

The Dow Jones Industrial Average closed 10 points lower. The S&P 500 closed 11 points higher. The NASDAQ was up 57 points.

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Carcass weights continue pointing to marketing currentness, according to USDA’s most recent Actual Slaughter Under Federal Inspection report.

Dressed steer weights of 849 lbs. for the week ending June 15 were 7 lbs. lighter than a year earlier. Dressed heifer weights were 4 lbs. lighter at 787 lbs.

There were 19,994 head more fed slaughter for the week, compared to a year earlier, and 21,005 head more total slaughter. Beef production for the week of 531.1 million lbs. was 13.3 million lbs. more than the same week a year earlier.

2019-06-27T19:57:18-05:00

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