The live cattle market is working higher with triple digit gains in the nearbys ahead of the Labor Day Weekend. Feeder cattle are trading 25 to 45 cents in the black as well. 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 firmed up on Friday morning with Choice up by $1.90 and Select $1.72 higher. 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.
Oct22 Cattle are at $144.350, up $1.550,
Dec 22 Cattle are at $149.975, up $1.400,
Feb 23 Cattle are at $154.075, up $0.925,
Sep 22 Feeder Cattle are at $183.625, up $0.475
Oct22 Feeder Cattle are at $184.625, up $0.275
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