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Live cattle futures closed on Thursday with gains of $1.25 to $1.50. Southern sales were reported at $239-240 per head, while Northern dressed sales were at $370, down $5-8 week-over-week. No sales occurred at the Thursday Fed Cattle Exchange auction despite 1,250 head offered, with bids ranging from $232-238.
Weekly export sales data showed 15,777 MT of beef sold for the week ending September 11, an increase from the previous week, with South Korea as the largest buyer at 8,000 MT. Beef shipments reached 13,169 MT, marking a six-week high, with Japan as the top destination at 4,000 MT.
The USDA is set to release its Cattle on Feed report on Friday, expected to show a 9% decline in August placements, with September 1 on-feed data estimated down 0.9% compared to 2024. Thursday’s federally inspected cattle slaughter was estimated at 112,000 head, bringing the weekly total to 460,000 head, which is 34,579 head lower than the same week in 2024.
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