Live cattle futures rose significantly on August 25, 2023, with contracts increasing by $3.15 to $3.35. Cash trade prices were reported at $235 in Kansas, marking a rise of $3 to $5 from the previous week. An online auction by the Fed Cattle Exchange noted sales at $237 for 215 out of 1,526 head offered from Texas and Kansas. Feeder cattle futures also increased, gaining $2.60 to $2.75, with several contracts trading above $340 before closing below that threshold.
The USDA reported a decline in wholesale boxed beef prices, with Choice boxes down by $2.20 to $361.99, and Select boxes down $1.57 to $340.91. The cattle slaughter estimate for the day was 112,000 head, bringing the weekly total to 333,000, an increase of 2,000 head from the prior week but still 24,395 head lower compared to the same week in 2024.
Closing Prices: Aug 25 Live Cattle at $233.075 (up $3.350), Oct 25 Live Cattle at $229.725 (up $3.275), Dec 25 Live Cattle at $229.900 (up $3.150), Aug 25 Feeder Cattle at $338.950 (up $2.750), Sep 25 Feeder Cattle at $339.750 (up $2.675), Oct 25 Feeder Cattle at $338.550 (up $2.650).
