Cattle Push Losses into Thursday

Live cattle futures were down 72 cents to $1.10, in the front months on Thursday, with soon to expire August up $1.12. Cash trade has been slow to get kicked off this week, with some Southern action at $182, down $1-2, with the North steady at $184. The Central Stockyards Fed Cattle Exchange online auction saw no sales on the 1,706 head, with bids of up to $182 in the South. Feeder cattle futures were down 37 cents to $1.90 on the day, as August rolled off the board. The CME Feeder Cattle Index was steady at $242.64 on August 28. 

Export Sales data showed 17,156 MT of beef sales in the week ending on August 22, an improvement from the week prior. Shipments were back up to a 3-week high at 14,800 MT.

USDA wholesale Boxed Beef prices were mixed in the Thursday afternoon report. Choice boxes were up $1.37 at $308.66, with Select products $1.44 lower @ $296.19. The Chc/Select spread was widened back out to $12.47. USDA estimated Thursday ‘s federally inspected cattle slaughter at 123,000 head, taking the weekly total to 477,000 head. That is down 7,000 head from the previous week and 22,284 head below the same week last year.

Aug 24 Live Cattle  closed at $184.875, up $1.125,

Oct 24 Live Cattle  closed at $177.900, down $0.725,

Dec 24 Live Cattle  closed at $176.700, down $1.075,

Aug 24 Feeder Cattle  closed at $243.175, down $0.375,

Sep 24 Feeder Cattle  closed at $239.500, down $1.800,

Oct 24 Feeder Cattle  closed at $236.675, down $1.900,