Live cattle futures experienced declines on Thursday, with losses ranging from $1.72 to $1.90. The Fed Cattle Exchange reported no sales from the 1,026 head offered, where bids were between $232 and $235. Feeder cattle futures also fell significantly, with decreases of $2.12 to $5.60 in the front months.
USDA’s recent data highlighted a sharp decrease in beef export sales, reporting just 3,207 metric tons for the week ending March 12, the lowest since October 2023. In contrast, shipments for the same week totaled 13,571 metric tons. Additionally, wholesale boxed beef prices dropped, with Choice boxes at $400.42 (down $1.33) and Select boxes at $393.68 (down $2.49). USDA estimated a total cattle slaughter of 308,000 head for the week, down by 9,000 from the previous week and 20,077 from the same week last year.
