Live cattle futures were down $1.22 to $1.35 at the Thursday close. Cash activity thus far has been limited so far this week, with some light $230-231 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 fell $2.25 to $2.625 on the Thursday session. The CME Feeder Cattle Index was back down $1.26 to $326.18 on July 23.
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. South Korea was the top buyer of 9,000 MT, with 2,400 MT to Japan. Shipments improved 21.68% to 12,525 MT. Japan was the top destination of 3,600 MT with 3,500 MT to South Korea.
Cattle on Feed data will be released this afternoon, 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 will also release their bi-annual July Cattle Inventory after a year hiatus last year.
USDA Wholesale Boxed Beef prices were back higher in the Thursday PM report, narrowing the Chc/Sel spread to $21.09. Choice boxes were quoted $0.57 higher at $368.09, while Select was up $1.61 to $347.00. USDA estimated cattle slaughter for Thursday at 117,000 head, with the week to date total at 448,000. That was down 10,000 head from last week and 35,058 head lower vs. the same week in 2024.
Aug 25 Live Cattle closed at $225.800, down $1.225,
Oct 25 Live Cattle closed at $222.150, down $1.350,
Dec 25 Live Cattle closed at $222.650, down $1.250,
Aug 25 Feeder Cattle closed at $328.900, down $2.625,
Sep 25 Feeder Cattle closed at $329.650, down $2.250,
Oct 25 Feeder Cattle closed at $328.350, down $2.300,
