In this file:

 

·         LIVESTOCK-U.S. live cattle futures fall as cash cattle, beef prices sag

·         Weak cash trade pushes cattle futures lower

 

 

LIVESTOCK-U.S. live cattle futures fall as cash cattle, beef prices sag

 

Julie Ingwersen / Reuters  

September 5, 2019 / 4:35 PM

 

CHICAGO, Sept 5 (Reuters) - Chicago Mercantile Exchange live cattle futures fell to contract lows on Thursday as cash cattle prices declined from last week and wholesale beef prices extended their slide, traders said.

 

Cash cattle traded at $100 per cwt in Texas and Kansas, traders said, down from $103 last week.

 

“Boxed beef is down, steer weights are up and cash trade is $3 lower in the south, at $100. So all that is negative,” said Brian Hoops, president of broker Midwest Market Solutions.

 

Wholesale beef prices continued to retreat in the wake of the U.S. Labor Day holiday, the last major grilling holiday of the summer. The U.S. Department of Agriculture late Thursday quoted choice boxed beef cutout BEEF-US-CH at $229.42 per cwt, down $1.23 from Wednesday, and select cutout tumbled $4.48 to $204.47...

 

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https://uk.reuters.com/article/usa-livestock/livestock-us-live-cattle-futures-fall-as-cash-cattle-beef-prices-sag-idUKL2N25W1MN

 

 

Weak cash trade pushes cattle futures lower

 

By Meghan Grebner, Brownfield

September 5, 2019

 

At the Chicago Mercantile Exchange, live and feeder cattle closed mostly lower on the less than stellar cash trade, weaker wholesale values, and concerns that the slower cash business could cause a back-up in cattle country and push cattle weights higher.  October lives down $1.15 at $97.87 and December live cattle closed $1.35 lower at $102.22.  September feeder cattle closed $1.15 lower at $134.40 and October feeder cattle closed $1.10 lower at $132.32.

 

A light to moderate direct cash cattle trade has been reported in parts of the South at $100 live.  That’s generally $2 to $3 lower than last week’s weighted averages.  There was a light to moderate trade that took place in the North yesterday at $165 to $167, which was generally $4 lower than last week’s weighted average basis in Nebraska.  It looks like the bulk of this week’s trade is finished, but asking prices for cattle remaining on showlists are at $105 live and $175 dressed.

 

At the Oklahoma West Livestock Auction receipts are down on the week and up on the year.  Compared to last week, feeder steers and heifers were $1 to $3 lower on very limited comparable sales.  The USDA says demand was moderate and all classes of steer and heifer calves were too lightly tested for an accurate trend.  Quality was plain to average.  Feeder supply included 49 percent steers and 84 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 703 to 742 pounds brought $137.50 to $144.25 and feeder steers 751 to 789 pounds brought $136.74 to $138.75.  Medium and Large 1 feeder heifers 650 to 689 pounds brought $130.75 to $136.50 and feeder heifers 765 to 799 pounds brought $126 to $127.50.

 

Boxed beef closed lower on Choice and sharply lower on Select on light demand and heavy offerings.  Choice closed $1.23 lower at $229.42 and Select closed $4.48 lower at $204.47.  The Choice/Select spread is at $24.95.  Estimated cattle slaughter is 116,000 head – even on the week and down 4,000 on the year...

 

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https://brownfieldagnews.com/market-news/weak-cash-trade-pushes-cattle-futures-lower/