Cattle In Freefall Again on Thursday
Live cattle futures are showing losses of $3 to $4 across the front months on Thursday. Cash trade has been light this week, with light dressed trade at $385 in the North, up $4 wk/wk. Southern trade was up $2 to $237. The Thursday morning Fed Cattel Exchange online auction showed no sales on the 1,188 head offered, with southern bids at $232. Feeder cattle futures are trading with $6.45 to $7.27 at midday. The CME Feeder Cattle Index was up another $1.40 to $344.09 on August 12.
USDA Export Sales data showed a total of just 4,282 MT of beef sold in the week ending on August 7, a calendar year low. Actual shipments were a 4-week low at 11,358 MT.
USDA Wholesale Boxed Beef prices were higher in the Thursday AM report, with the Chc/Sel spread tightening to $24.64. Choice boxes were up $2.78 at $393.27, while Select was 67 cents higher to $368.63. USDA estimated cattle slaughter for Wednesday was 116,000 head, with the week to date total at 333,000. That was up just 1,000 head from last week but 22,968 head lower vs. the same week in 2024.
Aug 25 Live Cattle are at $232.500, down $3.050,
Oct 25 Live Cattle are at $225.925, down $3.500,
Dec 25 Live Cattle are at $227.400, down $4.000,
Aug 25 Feeder Cattle are at $339.425, down $6.450
Sep 25 Feeder Cattle are at $339.350, down $7.275
Oct 25 Feeder Cattle are at $338.650, down $6.975
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.