Live cattle futures posted gains of $1.12 to $1.45 on Thursday. Cash activity so far this week has been $238-240 in the North, down $2-5 from last week, with Southern deals at $238. This morning’s Fed Cattle Exchange online auction showed no sales on the 1,516 head offered, with bids of $233-237. Feeder cattle futures closed with gains on Thursday, as contracts were $1.95 to $2.20 gains at midday. The CME Feeder Cattle Index was down $1.99 at $363.48 on September 10.
Export Sales data showed 12,053 MT in beef sales during the week of September 4, a 3-week low. The top buyer was Japan at 3,400 MT, with 2,400 MT sold to South Korea. Shipments were a calendar year low at just 8,650 MT in that week.
