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On Thursday, live cattle futures fell between $2 and $3.37, with an open interest decline of 4,344 contracts indicating long liquidation. Cash trade saw $365 dressed sales in the North, down $5 from the previous week, while live cattle traded at $232-$235, down $3-$4. The Fed Cattle Exchange had no sales for the 2,144 head offered.
USDA reports showed wholesale boxed beef prices decreasing: choice boxes fell by $5.42 to $371.97, while select boxes decreased by $2.97 to $353.45. The estimated cattle slaughter for Thursday was 115,000 head, bringing the week’s total to 466,000, 6,000 head higher than the previous week but 35,175 head lower than the same period last year. Export sales for the week ending September 18 reported only 8,446 MT of beef, marking a six-week low.
Live cattle futures closed with October at $232.050 (down $2.000), and feeder cattle futures noted October at $354.050 (down $5.575).
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