Cattle Market Seeing Margin Call Liquidation
BRUG - Wed Aug 14, 7:29AM CDT

Live cattle futures posted limit losses in the front months on Tuesday after a morning short covering rally fizzled. Feeder cattle futures were down as much as $6.75 on Tuesday, the expanded daily limit. Both will see expanded limits again today. The CME Feeder Cattle Index was down $1.02 cents on August 12 at $140.08. Wholesale boxed beef prices were higher Tuesday afternoon. The Choice boxes were up $7.74 at $226.36, with Select boxes higher $2.79 @ $200.58. The Chc/Sel spread widened to $25.78, the highest point since June 2017. USDA estimated the week to date FI cattle slaughter at 231,000 head, down 6,000 head from the previous week and 5,000 head below the same week last year. Cash action has yet to be reported this week but is expected to be lower due to the lower kill capacity in Kansas. Wednesday’s FCE auction has 462 head on the showlist. --provided by Brugler Marketing & Management




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