Live cattle are mixed on Thursday, trying to recover from some early losses, as nearbys are up 12 to 17 cents and deferres are slightly lower. Cash trade activity has been quiet, with a few bids at $185 reported in KS and $193 in NE. Feeder cattle futures are down 95 cents to $1.05, likely feeling some pressure from the strength in corn. The CME Feeder Cattle Index was up $1.38 on June 11 at $254.77.
Beef export sales totaled 11,978 MT in the week ending on June 6, a 12-week low. Shipments in that week were a 3-week high at 16,570 MT.
USDA had Wholesale Boxed Beef prices mixed in the Thursday AM print. Choice boxes were down another 19 cents at $317.41 per cwt, with Select back 24 cents higher at $299.17. The Chc/Select spread has tightened to $18.24. USDA estimated daily FI slaughter for Wednesday was 123,000 head, taking the weekly total to 367,000 head. That matches the previous week but is 9,757 head below the same week last year.
Jun 24 Live Cattle are at $183.775, up $0.125,
Aug 24 Live Cattle are at $178.500, up $0.175,
Oct 24 Live Cattle are at $180.950, down $0.100,
Aug 24 Feeder Cattle are at $256.525, down $1.050
Sep 24 Feeder Cattle are at $257.500, down $0.975
Oct 24 Feeder Cattle are at $257.900, down $0.950
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