Live cattle futures closed the Tuesday session with contracts $2.37 to $4.50 gains across most contracts at the close. Short covering was noted, with open interest falling 5,633 contracts Cash trade saw light action last week with sales ranging from 218-220, with a few up to $222. Feeder cattle futures rounded out the Tuesday session with contracts $4.05 to $5.72 higher. The CME Feeder Cattle Index was back down 60 cents on September 7 to $326.98.

Tuesday’s Crop Progress report showed the US pasture rating at 18% gd/ex, unchanged on the week prior. The Brugler500 index fell 2 points to 243.

Wholesale Boxed Beef prices were mixed in the Tuesday afternoon report, with the Chc/Sel widening to $22.18. Choice boxes were up $1.40 at $377.57, with Select 48 cents lower to $355.39. USDA estimated the Tuesday Federally inspected cattle slaughter at 109,000 head.

Oct 26 Live Cattle  closed at $217.025, up $4.075,

Dec 26 Live Cattle  closed at $219.225, up $4.500,

Feb 27 Live Cattle  closed at $220.450, up $3.875,

Sep 26 Feeder Cattle  closed at $328.875, up $4.050,

Oct 26 Feeder Cattle  closed at $325.450, up $5.300,

Nov 26 Feeder Cattle  closed at $320.450, up $5.725,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.