Live cattle futures are experiencing losses of 85 cents to $1.12 as of midday. The Central Stockyards Fed Cattle Exchange reported no sales for the 1,614 head offered this morning, with bids capped at $184. In feeder cattle futures, losses range from 5 cents to $1.05, with the CME Feeder Cattle Index falling by 9 cents to $247.29 as of October 1.
The USDA reported beef export sales of 22,542 metric tons for the week of September 26, a seven-week high. South Korea was the leading buyer at 7,900 metric tons, followed by China at 6,200 metric tons. Export shipments reached a calendar year high of 17,739 metric tons, with substantial deliveries to South Korea (4,100 MT), Japan (4,000 MT), and China (2,900 MT).
In the USDA’s Thursday morning report, wholesale Boxed Beef prices showed mixed results, with choice boxes down 32 cents to $299.49 per hundredweight, while select boxes increased by 55 cents to $284.48. The estimated federally inspected cattle slaughter for Wednesday totaled 124,000 head, bringing the weekly total to 367,000, which is 4,000 above the previous week but 6,888 below the same week last year.
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