Live cattle futures are falling another 82 cents to $1.32 at midday, with soon to expire August up 22 cents. Cash trade has yet to get kicked off this week, with a few bids of $183-184 in the North reported so far and Southern bids of $182. The Central Stockyards Fed Cattle Exchange online auction saw no sales on the 1,706 head, with bids of up to $182 in the South. Feeder cattle futures are down 37 cents to $1.70 at midday. The CME Feeder Cattle Index was up a penny at $242.64 on August 27.
Export Sales data showed 17,156 MT of beef sales in the week ending on August 22, an improvement from the week prior. Shipments were back up to a 3-week high at 14,800 MT.
USDA wholesale Boxed Beef prices were mixed in the Thursday morning report. Choice boxes were up 94 cents at $308.23, with Select products $1.09 lower @ $296.54. The Chc/Select spread was widened back out to $11.69. USDA estimated Wednesday’s federally inspected cattle slaughter at 120,000 head, taking the weekly total to 354,000 head. That is down 9,000 head from the previous week and 20,966 head below the same week last year.
Aug 24 Live Cattle are at $183.975, up $0.225,
Oct 24 Live Cattle are at $177.800, down $0.825,
Dec 24 Live Cattle are at $176.450, down $1.325,
Aug 24 Feeder Cattle are at $243.175, down $0.375
Sep 24 Feeder Cattle are at $239.600, down $1.700
Oct 24 Feeder Cattle are at $236.950, down $1.625
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