Cattle Head Lower with Weaker Cash Market

Live cattle futures ended the Tuesday trade with losses of $1.20 to $1.40 in the front months, as August was down just 22 cents. Cash trade saw some $185-187 to sales in the South this week, with northern trade has slipped $3 to $193 so far this week. Thursday morning’s Central Stockyards Fed Cattle Exchange online auction showed no sales on the 1,194 head offered and live bids in TX at $185-186, with BidTheGrid™ bids at $187-188. Feeder cattle futures posted losses of $1.475 to $2.25 across most contracts, as front month August was down just a quarter. The CME Feeder Cattle Index was down $1.88 at $252.84 on August 7. 

Beef export sales totaled 10,047 MT in the week that ended on August 1, a 4-week low. Actual shipments totaled 15,354 MT, which was also a 4-week low.

USDA wholesale Boxed Beef were reported lower in the Thursday PM report. Choice boxes were down $1.73 at $312.12, with Select products 80 cents lower @ $298.03. The Chc/Sel spread narrowed to $14.09.  USDA estimated Thursday’s FI slaughter at 121,000 head, taking the weekly total to 484,000. That is up 10,000 head from last week and 8,733 head below the same week a year ago.

Aug 24 Live Cattle  closed at $182.050, down $0.225,

Oct 24 Live Cattle  closed at $178.025, down $1.250,

Dec 24 Live Cattle  closed at $176.725, down $1.400,

Aug 24 Feeder Cattle  closed at $242.375, down $0.250,

Sep 24 Feeder Cattle  closed at $237.425, down $1.475,

Oct 24 Feeder Cattle  closed at $236.000, down $2.125,

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