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Cattle firmed up after an initially weak start on Monday. Futures were still down by 5 to 60 cents for the close. Barchart.com says the feeder cattle futures closed Monday with a 5 cent gain in the May contract though seeing 27 to 67 cent losses in the other front months. USDA confirmed Friday cash sales near $172-$173. USDA reported 6 thousand head were sold in the OKC auction, including 63% steers and 37% heifers, and with 66% being below 600#s.
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The Hightower Report said, “A lower finish for live cattle and feeders on Friday. JBS announced the closure of 2 beef plants, one in Pennsylva…
Bloomberg said, “JBS NV is closing a beef plant in Pennsylvania, in the latest sign of pressures meatpackers are facing amid a severe US cattl…
“July tested Monday’s 7-month low on ongoing technical weakness and fund selling,” the Hightower Report said. “The daily chart has yet to show…
On boxed beef cutout values, the USDA said:
“Another sharply higher day across the cattle complex yesterday with prices opening on the low of the day near steady and closing on the highs…
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