Live cattle futures are 47 lower to 55 higher at midday. Feeder futures are up another $1.07 to $1.30. The CME feeder cattle index was down $1 on July 13 to $150.74. Wholesale beef prices were higher in the Monday morning report, with choice boxes up 57 cents at $209.92. Select was $1.12 higher, with an average of $196.54. Last week's estimated weekly FI cattle slaughter was 637,000 head, 39,000 above the same week last year. Cash cattle sales last week ranged from $119 to $120 across most regions. Managed money traders backed off their net long position in live cattle futures and options to a net position of +114,911 contracts in the CFTC COT report.

Aug 17 Cattle are at $117.325, down $0.475,

Oct 17 Cattle are at $118.925, up $0.350,

Dec 17 Cattle are at $119.550, up $0.550,

Aug 17 Feeder Cattle are at $155.350, up $1.075

Sep 17 Feeder Cattle are at $155.325, up $1.250

Oct 17 Feeder Cattle are at $154.050, up $1.300

Market Commentary provided by:

Brugler Marketing & Management LLC
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Phone: 402-697-3623
Fax: 402-289-2353

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