Live Cattle Face Friday Trading

Live cattle futures traded in the black on Thursday, going home with $0.45 to $1.27 gains in the front months. Nearby feeder cattle prices weakened by another 20 to 62 cents on the day. USDA reported Thursday finished cattle traded hands from $140 - $142 in the South and mostly near $143 in the North. The weekly FCE auction showed none of the 1,281 head listed were sold, as asks were $143+ and bids were capped at $142. The CME Feeder Cattle Index was $178.51 after a $1.46 drop on 9/14. 

USDA’s weekly Export Sales report showed 15,131 MT of beef were sold during the week that ended 9/8. Accumulated shipments reached 664,088 MT. 

Wholesale Boxed Beef prices weakened on Thursday with the spread tightening to $22.39. Choice was down $1.13 on the day to Select’s 16 cent drop. Choice ribs were quoted $141.84 compared to Select’s $321.63. USDA estimated FI cattle slaughter at 504k head for the week through Thursday, compared to 471k head during the same week last year. 

Oct 22 Cattle  closed at $145.625, up $1.275,

Dec 22 Cattle  closed at $151.325, up $1.275,

Feb 23 Cattle  closed at $155.375, up $0.900,

Sep 22 Feeder Cattle  closed at $179.350, down $0.625

Oct 22 Feeder Cattle  closed at $180.925, down $0.500