Cattle Posting Strength on Thursday

Live cattle futures are showing 45 to 85 cent gains on Thursday. The Central Stockyards online Fed Cattle Exchange auction showed sales of 393 head on the 2,380 head at $189. Outside of that, bids have been $186. Feeder cattle futures are up 15 cents to $1.32 at midday. The CME Feeder Cattle Index was back up 6 cents at $250.71 on October 22. 

Ahead of the Friday afternoon Cattle on Feed report, analysts are expecting to see September placements tallied at 96% of last year’s total, with marketings at 102% of the 2023 total. October 1 on feed inventory is expected to be down 0.3%.

 

Export sales of beef totaled 16,712 MT in the week that ended on October 17, which was 18.94% larger than the previous week. South Korea was the buyer of 6,500 MT, with China buying 4,600 MT. Another 2,100 MT in sales were reported for 2025. Shipments totaled 16,050 MT in that week, which was a 3-week high. The top destination was South Korea at 4,400 MT, with 3,200 MT for Japan.

USDA wholesale Boxed Beef prices were lower in the Thursday morning report. Choice boxes were down $1.05 to $320.36/cwt, with Select 68 cents lower @ $295.09. The Chc/Select spread narrowed to $25.27. USDA estimated Wednesday’s federally inspected cattle slaughter at 124,000 head, taking the week to date total to 367,000 head. That is 3,000 head below the previous week and down 9,278 head from the same week last year.

Oct 24 Live Cattle  are at $188.375, up $0.750,

Dec 24 Live Cattle  are at $188.350, up $0.475,

Feb 25 Live Cattle  are at $189.450, up $0.825,

Oct 24 Feeder Cattle  are at $248.725, up $0.150

Nov 24 Feeder Cattle  are at $247.850, up $0.625

Jan 25 Feeder Cattle  are at $244.750, up $0.925