Live cattle futures are falling lower on Friday pressured by weaker cash and the Tyson closure, as contracts are down $3.12 to $5. Cash trade has been picked up with some $228-230 sales in the North. The Friday morning Fed Cattle Exchange auction showed no sales on the 1,308 head offered, with bids dropping to $222-225 live and 350 dressed. Feeder cattle futures are trading with $3.15 to $6.40 losses at midday. The CME Feeder Cattle Index was back up $3.44 on August 12 to $351.93.
Late on Thursday, Tyson announced it will shut its Joslin, IL plant (3,000 hd/day) and sell it’s Pasco, WA plant (2,000 hd/day). They also announced the Amarillo, TX plant will ramp up production after cutting back kill last fall.
Wholesale Boxed Beef prices were weaker in the Friday morning report. Choice boxes were down $1.17 at $374.73, with Select down 13 cents to $349.11. SDA’s Federally inspected cattle slaughter for Thursday was estimated at 106,000 head, with the weekly total at 416,000 head. That is up 3,000 head from the previous week but 34,200 head below the same week last year.
Aug 26 Live Cattle are at $221.225, down $5.000,
Oct 26 Live Cattle are at $216.500, down $3.550,
Dec 26 Live Cattle are at $216.325, down $3.125,
Aug 26 Feeder Cattle are at $339.675, down $3.150
Sep 26 Feeder Cattle are at $331.875, down $5.325
Oct 26 Feeder Cattle are at $322.400, down $6.400
