Live cattle futures closed with gains, ranging from 77 cents to $1.125, while feeder cattle futures showed mixed results, dropping $1.55 to $2.12. The cash trade reported sales between $355-360 dressed and $226 live. However, the Fed Cattle Exchange’s online auction for 1,520 head resulted in no sales, with bids between $223 and $225. The CME Feeder Cattle Index fell to $341.85, down 51 cents as of August 19.
USDA’s export sales data revealed beef sales for the week ending August 13 totaled 9,299 metric tons (MT), a five-week low, with Mexico purchasing 1,600 MT and South Korea 1,400 MT. Meanwhile, shipments reached 12,646 MT, the highest in six weeks, with South Korea receiving 3,600 MT and Japan 3,200 MT.
Upcoming Cattle on Feed data is expected to show July placements down 6.7% and marketings down 7.2% year-over-year, with August 1 on-feed figures projected to increase by 2.4%. Thursday’s federally inspected cattle slaughter totaled 103,000 head, bringing the week’s total to 412,000, down 4,000 head from last week and 39,893 head lower than last year.
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