Midday fat cattle prices are 55 cents to $1.27 in the red. Feeder cattle are trading $1.60 to $1.75 lower so far. Central Stockyard’s weekly FCE auction sold 246 of the 1,317 head listed for $137. Asks for the unsold cattle were mostly $140-$141. USDA confirmed cash sales from $137 to $147 on Wednesday, with mostly $140 in TX and $144 in the North. The 5/9 CME Feeder Cattle Index was up 12 cents to $156.33.
USDA reported 28,362 MT of beef was sold for export during the week that ended 5/5. South Korea was the largest buyer with 12k MT. That was up 94% wk/wk as the largest weekly sale since the week of Jan 28 2021. The weekly FAS report also had 19,741 MT of beef export shipments from the week of 5/5, that left the YTD total at 328,774 MT. That is up by 2.89% yr/yr as a record setting pace.
Wholesale Boxed Beef prices were higher in the AM report with Choice’s $1.14 bump to $256.22, and Select’s $1.54 bump to $243.72. USDA estimates FI cattle slaughter at 371k head for the week through Wednesday. That compares to 363k head last week and 351k head from the same week last year.
Jun 22 Cattle are at $133.000, down $0.575,
Aug 22 Cattle are at $133.675, down $0.975,
Oct 22 Cattle are at $140.725, down $1.200,
May 22 Feeder Cattle are at $157.825, down $0.325
Aug 22 Feeder Cattle are at $168.275, down $1.725
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