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Live cattle futures fell 82 cents to $1.32 at midday on August 24, 2023, with August futures up 22 cents. No cash trade has started this week, although bids of $183-184 were reported in the North and $182 in the South. The Central Stockyards Fed Cattle Exchange auction saw no sales from 1,706 head, with top bids of $182 in the South. Feeder cattle futures decreased by 37 cents to $1.70. The CME Feeder Cattle Index rose by a penny to $242.64 on August 27.
USDA export sales data for the week ending August 22 showed 17,156 MT of beef sales, an improvement from the prior week, while shipments reached a three-week high at 14,800 MT. Meanwhile, USDA wholesale Boxed Beef prices were mixed, with Choice boxes up 94 cents at $308.23 and Select products down $1.09 at $296.54.
The estimated federally inspected cattle slaughter on August 23 was 120,000 head, bringing the weekly total to 354,000 head, which is 9,000 head lower than the previous week and 20,966 head below the same week last year.
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