Live Cattle Futures Market News and Commentary
Live cattle futures ended the Thursday session with $0.47 to $1.10 losses. Feeder cattle ended with triple digit losses of $1.52 to $1.87. The Thursday FCE auction sold 495 of the 1,178 head listed – mostly near $142. Outside of the FCE, the USDA confirmed $142 sales in the South with $146-$150 in the North. Dressed sales have been mostly near $234. The CME Feeder Cattle Index was up 54 cents on August 16 to $179.89.
Weekly Export Sales data showed 18,937 MT of beef was booked during the week that ended 8/11. That was a 2-week high and up 70% from the same week last year. China was the top beef buyer for the week with 7.4k MT. Year to date FAS beef exports have totaled 597,000 MT.
USDA’s Wholesale Boxed Beef prices from Thursday’s PM report were mixed widening the spread to $26.92. Choice was up a nickel to $264.39 and Select was down by 42 cents. USDA estimated the WTD cattle slaughter at 499,000 head through Thursday. That is up 3,000 head from last week and 12,000 l... Read more