Live cattle futures were lower at the Thursday close, with contracts down $2.30 to $2.60. August, which expires today, fell $6.20 to $237, despite cash trade holding up. There were 20 deliveries retendered on Thursday. Preliminary open interest was up 2,057 contracts, suggesting new selling interest. Cash trade has been limited so far this week, with a few bids of $245 in the north reported and light sales of $240-242 in KS. Thursday morning’s Fed Cattle Exchange online auction showed a total of 1,220 head listed with bids of $235-236 reported. Feeder cattle futures fell back on Thursday, closing with losses of$2.50 to $3.60, as expiring August was up 47.5 cents. The CME Feeder Cattle Index was up another $4.55 to $365.23 on August 27.
Export Sales data showed a total of 13,591 MT of beef sold in the week of August 21, a 3-week high. The largest buyer was Japan at 7,700 MT, with 1,500 MT sold to South Korea. Shipments were also the highest in the last three weeks at 11,483 MT. South Korea led the top destinations at 3,600 MT, with 3,500 MT headed to Japan.
USDA Wholesale Boxed Beef prices were mixed in the Thursday afternoon report, with the Chc/Sel spread at $28.57. Choice boxes were up $2.57 at $414.41, while Select was $1.87 lower to $385.84. USDA estimated cattle slaughter for Thursday was 118,000 head, with the weekly total at 462,000 head. That was up 12,000 head from last week but 21,015 head lower vs. the same week in 2024.
Aug 25 Live Cattle closed at $237.000, down $6.250,
Oct 25 Live Cattle closed at $236.925, down $2.600,
Dec 25 Live Cattle closed at $238.600, down $2.300,
Aug 25 Feeder Cattle closed at $365.925, up $0.475,
Sep 25 Feeder Cattle closed at $361.800, down $3.600,
Oct 25 Feeder Cattle closed at $361.525, down $2.675,
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.
