Live cattle futures declined by $2.80 to $3.95 on Thursday, with cash trade reported at $350-355 dressed in the North, and live bids between $222-224 in the South. The Fed Cattle exchange auction saw no sales from the 1,514 heads offered. In the feeder cattle market, futures fell by $3.55 to $5.27, while the CME Feeder Cattle Index increased by 43 cents to $343.17 as of September 16.
The USDA’s announcement of the Santa Teresa, NM border crossing opening next Thursday contributed to this market pressure. Additionally, USDA’s export sales data for beef indicated 14,155 MT for the week ending September 10—a five-week high—while shipments of 9,881 MT marked the lowest total in a year. USDA will release its monthly cattle on feed report on Friday, forecasting August placements to be 3.3% lower with marketings down 4%.
Wholesale Boxed Beef prices also dropped, with Choice boxes decreasing by $3.66 to $372.15 and Select boxes down $2.69 to $351.88. Thursday’s estimated federally inspected cattle slaughter reached 107,000 head, bringing the weekly total to 420,000, which is above last week’s figures but 43,870 head fewer than the same week last year.
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