Live cattle futures are slipping lower on Thursday, with losses of a dollar at midday. Cash activity thus far has been limited so far this week, with some light $230 in the South. Other bids are $230 in the South and $235 in the North. The Thursday Fed Cattle Exchange online auction from Central Stockyards showed no sales on the 2,556 head offered and $226-231 bids. Feeder cattle futures are down $2.25 to $2.75 on Thursday. The CME Feeder Cattle Index was up another 61 cents to $327.44 on July 22.
Export Sales data showed a total of 16,740 MT of beef sold in the week of 7/17, nearly double the same week last year. Shipments improved 21.68% to 12,525 MT.
Cattle on Feed data will be released on Friday, with June placements expected to be down 2% from a year ago and marketings seen 3.6% below June 2024. July 1 on feed inventory is estimated to be down 0.8% from last year.
USDA Wholesale Boxed Beef prices were back higher in the Thursday AM report, narrowing the Chc/Sel spread to $19.47. Choice boxes were quoted $1.57 higher at $369.09, while Select was up $4.23 to $349.62. USDA estimated cattle slaughter for Wednesday at 114,000 head, with the week to date total at 331,000. That was down 12,000 head from last week and 31,341 head lower vs. the same week in 2024.
Aug 25 Live Cattle are at $226.025, down $1.000,
Oct 25 Live Cattle are at $222.475, down $1.025,
Dec 25 Live Cattle are at $222.900, down $1.000,
Aug 25 Feeder Cattle are at $328.775, down $2.750
Sep 25 Feeder Cattle are at $329.575, down $2.325
Oct 25 Feeder Cattle are at $328.375, down $2.275
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.
