Live cattle futures are exhibiting mixed trends, with nearby contracts fluctuating between slight gains and losses. In the cash market, dressed cattle traded for $350-355 in the North and $224 live in the South. The Thursday Fed Cattle exchange auction reported no sales for 1,514 head offered, with bids ranging from $220 to $220.50. Feeder cattle futures declined by 50 cents to $1.55, while the CME Feeder Cattle Index increased by 43 cents to $343.17 as of September 16.
The USDA is set to release its monthly cattle on feed report today at 2 PM CDT, with August placements predicted to be down 3.3% and marketings 4% lower than previous figures. The report is also expected to show a 1.7% increase in the September 1 cattle on feed inventory compared to the previous year. On Thursday, federally inspected cattle slaughter was estimated at 107,000 head, bringing the weekly total to 420,000, which is significantly above last week but 43,870 head lower than the same week last year.
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