Live cattle futures are up $1.40 to $1.50 across the front months. Cash trade has yet to kick off this week. This morning’s Central Stockyards online Fed Cattle Exchange auction showed no sales on the 1,354 head listed, with bids of $178.5 to $181 and asks of $183-184. Bids outside of that have been $182 in the North. Feeder cattle futures are $2.00 to $3.30 higher in the nearbys on Thursday. The CME Feeder Cattle Index was back down a nickel at $243.39 on September 17. 

Beef export sales totaled 15,533 MT in the week that ended on September 12. That was back up 36.12% from the week prior. South Korea was the buyer of 3,700 MT, with 3,000 MT sold to China. Shipments totaled a 12-week high at 16,417 MT. The largest destination was 4,400 MT, with 3,800 MT headed to Japan.

Friday’s Cattle on Feed report is expected to show August placements down 1% from a year ago, with August marketings dropping 3.4% according to a Reuters survey of analysts. September 1 on feed estimates are running up 0.9% from 2023.

USDA wholesale Boxed Beef prices lower in the Thursday AM report. Choice boxes were down another $1.01 at $300.37, with Select 26 cents lower @ $289.49. The Chc/Select spread narrowed to $10.88. USDA estimated Wednesday’s federally inspected cattle slaughter at 125,000 head, taking the weekly total to 371,000 head. That is 9,000 head above the previous week and 3,427 head below the same week last year.

Oct 24 Live Cattle  are at $179.700, up $1.400,

Dec 24 Live Cattle  are at $181.300, up $1.450,

Feb 25 Live Cattle  are at $182.500, up $1.425,

Sep 24 Feeder Cattle  are at $244.850, up $2.025

Oct 24 Feeder Cattle  are at $243.250, up $3.300

Nov 24 Feeder Cattle  are at $240.875, up $2.750