Cattle Current Podcast-August 23

Short covering and position squaring seemed to be key drivers behind the surge in Cattle Futures on Tuesday. At least it offers a modicum of hope for cash fed cattle trade this week.

Choice boxed beef cutout value was 6¢ lower Tuesday afternoon at $193.03/cwt. Select was 73¢ lower at $190.89.

After 72¢ higher in spot Aug, Live Cattle futures closed an average of $1.59 higher ($1.20 to $2.02 higher).

Feeder Cattle futures closed an average of $2.47 higher ($2.15 to $2.90 higher).