Cattle Net Weaker on the Week into Friday

Front month live cattle futures closed firm on Thursday, mixed but mostly higher within 22 cents of UNCH. Feeders were $0.70 to $1.27 stronger on the day. Thursday’s FCE saw 238 of the 1,283 head sold for $141. USDA reported some limited Southern deals from $140 to $142 on Thursday, steady to $1 weaker. Northern dressed sales were $226 - $232, also firm to lower wk/wk. The CME Feeder Cattle Index was $183.36 on 8/31, down by 67 cents.   

Beef exports from Brazil were 21,607 MT larger in August ’22 compared to August ’21, with 203,230 MT shipped. 

Wholesale Boxed Beef prices weakened on Thursday with Choice $0.27 weaker to $258.07, and Select down $1.15. That widened the Chc/Sel spread to $21.48. The spread in ribs was $74.27 with choice holding above $400 cwt. USDA estimated the week’s FI cattle slaughter at 498k head through Thursday. That is 1,000 below last week’s pace and is up from 474k head during the same week last year. 

Oct 22 Cattle  closed at $142.800, up $0.225,

Dec 22 Cattle  closed at $148.575, up $0.100,

Feb 23 Cattle  closed at $153.150, down $0.175,

Sep 22 Feeder Cattle  closed at $183.150, up $0.700

Oct 22 Feeder Cattle  closed at $184.350, up $0.875