Live cattle futures are continuing weakness on Friday with midday losses of $1.27 to $1.37 in the front months. Cash activity saw sales of $242-243 reported this week, steady to $1 higher in the South and $2-3 weaker in the North. This morning’s Fed Catte Exchange online auction showed sales of $242 on 40 of the 242 head offered using the BidTheGrid™ method. Feeder cattle futures are down 52 cents to $2.80 so far on Friday. The CME Feeder Cattle Index was down another $4.08 at $361.35 on September 3.
Weekly Export Sales data showed a total of 16,573 MT of beef sold in the week of August 28, a 6-week high. Shipments were at 11,486 MT, up slightly from last week.
