Live cattle futures declined significantly on Thursday, with losses ranging from $1.52 to $4.35. There were no deliveries reported against August futures, while cash trade in the North was noted between $228 and $230. The Fed Cattle Exchange auction offered 1,308 head but recorded no sales at a bid of $228. Feeder cattle futures also fell, with losses between $1.40 and $3.52. The CME Feeder Cattle Index rose $3.44 to $351.93.
Tyson Foods announced plans to shut its Joslin, IL plant, which processes 3,000 head per day, and sell its Pasco, WA plant, processing 2,000 head per day. The Amarillo, TX plant will increase production after prior cuts.
Export Sales data from the USDA reported beef sales at 14,426 MT for the week ending August 6, with South Korea purchasing 5,300 MT and Japan 3,000 MT. Wholesale Boxed Beef prices varied, with Choice boxes up $3.62 at $375.90 and Select boxes down $0.57 at $349.24. Thursday’s estimated federally inspected cattle slaughter was 106,000 head, bringing the weekly total to 416,000, which is 34,200 less than last year’s figures.
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