Live cattle futures dropped on Thursday, with contracts decreasing by $2.95 to $4.55. The cash trade saw prices range from $235 live to $370 dressed in the North, while the Fed Cattle Exchange reported no sales from 734 head offered, with bids between $233-$234 live. Feeder cattle futures also faced losses, dropping $5.12 to $7.57.
USDA reported beef export sales for the week ending July 30 at 19,845 MT, a six-week high, with South Korea purchasing 9,300 MT and Japan 6,600 MT. Shipment totals reached 12,461 MT, led by South Korea (3,800 MT) and Japan (2,800 MT). Thursday’s cattle slaughter was estimated at 107,000 head, bringing the week’s total to 413,000, which is 6,000 head higher than the previous week but 36,284 head lower than the same week last year.
Wholesale Boxed Beef prices were mixed, with Choice boxes down $4.11 to $363.86 and Select boxes up $1.72 to $349.78. The Chc/Sel spread narrowed to $14.08.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
