On Friday, live cattle futures increased by $2.20 to $3.15, bolstered by a Fed Cattle Exchange showing sales of $225 on 45 of the 952 head offered. Feeder cattle futures also rose by $5.40 to $5.90 at midday, aided by recent short covering and weak grain prices. The CME Feeder Cattle Index increased by $1.53 to $328.96 as of September 9.
USDA’s Export Sales data revealed that beef sales for the week ending September 3 were at 8,581 metric tons (MT), the lowest in eight weeks, while shipments were reported at 11,521 MT, marking a four-week low. Additionally, USDA estimated Thursday’s federally inspected cattle slaughter at 109,000 head, totaling 329,000 head for the week, significantly lower than last week’s totals due to the Monday holiday.
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