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Live cattle futures experienced gains on Thursday, closing up between 22 cents to $1.37. In cash trade, sales in the South ranged from $180 to $182, marking a steady increase of $1 from last week, while the North remained steady at $181. The Fed Cattle Exchange recorded two lots sold at $181 in Kansas and Texas, with 1,277 head receiving bids between $178 and $181. Feeder cattle futures also rose, increasing by $1.10 to $2.25 before the market closed.
Export Sales data indicated a five-week low in beef sales, with 11,411 metric tons booked, and export shipments at the lowest for the marketing year at 11,830 metric tons. The USDA’s monthly WASDE report projected 2024 U.S. beef production at 26.795 billion pounds, up 60 million from last month, while the estimated production for 2025 was raised by 180 million to 25.625 billion pounds.
USDA wholesale boxed beef prices showed mixed results; Choice boxes decreased by 18 cents to $307.18, while Select boxes increased by $1.26 to $295.65. Thursday’s estimated federally inspected cattle slaughter reached 123,000 head, bringing the weekly total to 485,000, which is 16,140 head lower than the same week last year.
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