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Live cattle futures fell on Thursday, with prices dropping $2.95 to $4.55. Cash trade was reported at $235 live and $370 dressed, while the Fed Cattle Exchange saw no sales for 734 head offered despite bids at $233-234 live. Feeder cattle futures also declined, ranging from $5.12 to $7.57 lower. The CME Feeder Cattle Index increased by $4.28 to $352.93 as of August 5.
USDA’s export sales data showed a six-week high at 19,845 MT of beef sales for the week ending July 30, with South Korea purchasing 9,300 MT and Japan 6,600 MT. This week, shipments totaled 12,461 MT, with the top destination being South Korea at 3,800 MT.
Wholesale boxed beef prices were mixed; Choice boxes decreased by $4.11 to $363.86, while Select increased by $1.72 to $349.78, narrowing the Chc/Sel spread to $14.08. The USDA reported estimated cattle slaughter at 107,000 head for Thursday, totaling 413,000 head for the week—a rise of 6,000 from last week but 36,284 below last year.
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