On October 24, live cattle futures closed at $186.00, down $1.425, while feeder cattle futures fell by 42 to 75 cents across nearby contracts. The Central Stockyards Fed Cattle Exchange auction had no sales for the 1,614 head offered, with bids posted at $184. The CME Feeder Cattle Index dropped 96 cents to $248.25.
The USDA reported a seven-week high for beef export sales at 22,542 metric tons (MT) for the week of September 26, with South Korea as the largest buyer at 7,900 MT, followed by China at 6,200 MT. Export shipments peaked for the calendar year at 17,739 MT, primarily going to South Korea (4,100 MT), Japan (4,000 MT), and China (2,900 MT).
In wholesale markets, USDA’s Boxed Beef prices saw a slight decline, with Choice boxes at $299.80/cwt, down a penny, and Select boxes at $283.29, down 64 cents. Estimated federally inspected cattle slaughter stood at 124,000 head for Thursday, making the weekly total 491,000 head, which is 4,000 head more than the previous week but 7,753 head fewer than the same week last year.
