Cattle Falling with Weaker Cash Market

Live cattle futures are failing to follow the stronger equities that assisted in the early week collapse, as cash weakness is plaguing the market. Contracts are down 32 cents to $1.40 at midday. Cash trade started out on Wednesday with some $187 to $190.50 trade in the South and bids of $185-186 this morning. Northern trade has slipped $3 to $193 so far this week. Thursday morning’s Central Stockyards Fed Cattle Exchange online auction showed no sales on the 1,194 head offered and live bids in TX at $185-186, with BidTheGrid™ bids at $187-188. Feeder cattle futures are down anywhere from 15 cents to $2 at midday.  The CME Feeder Cattle Index was down 63 cents at $254.72 on August 6. 

Beef export sales totaled 10,047 MT in the week that ended on August 1, a 4-week low. Actual shipments totaled 15,354 MT, which was also a 4-week low.

USDA wholesale Boxed Beef were reported lower in the Thursday AM report. Choice boxes were down $1.59 at $312.26, with Select products 61 cents lower @ $298.22. The Chc/Sel spread narrowed to $14.04.  USDA estimated Wednesday’s FI slaughter at 122,000 head, taking the weekly total to 36,000. That is up 3,000 head from last week and 5,578 head below the same week a year ago. 

Aug 24 Live Cattle  are at $181.950, down $0.325,

Oct 24 Live Cattle  are at $177.900, down $1.375,

Dec 24 Live Cattle  are at $176.725, down $1.400,

Aug 24 Feeder Cattle  are at $242.475, down $0.150

Sep 24 Feeder Cattle  are at $237.600, down $1.300

Oct 24 Feeder Cattle  are at $236.200, down $1.925