Live cattle futures fought back to settle higher in most contracts on Wednesday, with nearby August down a quarter. Feeder cattle futures were steady to $1.025 higher on the day. The CME feeder cattle index was up 50 cents from the previous day on 8/7, reaching $150.56. Wholesale boxed beef values were higher on Wednesday afternoon. Choice boxes were up 24 cents at $205.73, while Select boxes were 35 cents higher at $198.86. Weekly FI cattle slaughter was estimated at 357,000 head through Wednesday. That is up 5,000 head from the previous week and 6,000 head above the same week in 2017. Wednesday morning’s FCE online auction showed no sales on 464 head offered, with 2 lots passing on offers of $112.

Aug 18 Cattle closed at $109.825, down $0.250,

Oct 18 Cattle closed at $111.000, up $0.075,

Dec 18 Cattle closed at $114.525, up $0.150,

Aug 18 Feeder Cattle closed at $150.650, up $0.800

Sep 18 Feeder Cattle closed at $149.750, up $1.025

Oct 18 Feeder Cattle closed at $149.975, up $0.475

Market Commentary provided by:

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