Mixed Close for Cattle Market

At the closing bell the live cattle futures were mixed. The deferred contracts went home 37 to 45 cents higher on the day, as the nearby months closed a nickel to 30 cents in the red. Feeder cattle ended the trading day with 12t o 32 cent losses, but off the triple digit loss lows from earlier in the session. Thursday’s FCE from Central Stockyards had no sales between $136-$139 asks and $135 bids. USDA reported Some $135-$136 trade in the South on Thursday compared to $140 in the North. WCB sales had been $141 - $145 for the week. The CME Feeder Cattle Index was down by another 29 cents to $173.75 on 8/3. 

Weekly beef bookings were 12,046 MT according to the Export Sales report. That was down from the +20k MT sales from each of the past two weeks and was 20% weaker than the same week last year. USDA reported 18,474 MT were exported during the week of 7/28. That was also lower wk/wk and yr/yr by ~10%. Japan was the week’s top destination. Beef shipments to all destinations remains at record pace with 557k MT shipped through 7/28. 

USDA’s Wholesale Boxed Beef prices from the Thursday report had Choice boxes $1.66 weaker to $266.28 and Select boxes down by 95 cents. USDA estimated the week’s cattle slaughter pace at 497k head through Thursday. That compares to 495k head last week and 483k head during the same week last year.  

Aug 22 Cattle  closed at $137.700, down $0.200,

Oct 22 Cattle  closed at $143.650, down $0.300,

Dec 22 Cattle  closed at $149.900, down $0.050,

Aug 22 Feeder Cattle  closed at $179.075, down $0.275

Sep 22 Feeder Cattle  closed at $182.575, down $0.325