Live cattle futures posted losses of $1.22 to $1.35 at the close. Cash activity thus far has been limited so far this week, with some light $230-231 in the South. Other bids are $230 in the South and $235 in the North. The Thursday Fed Cattle Exchange online auction from Central Stockyards showed no sales on the 2,556 head offered and $226-231 bids. Feeder cattle futures were down $2.25 to $2.625 at Thursday’s close. The CME Feeder Cattle Index was back down $1.26 to $326.18 on July 23.
Export Sales data showed a total of 16,740 MT of beef sold in the week of 7/17, nearly double the same week last year. South Korea was the top buyer of 9,000 MT, with 2,400 MT to Japan. Shipments improved 21.68% to 12,525 MT. Japan was the top destination of 3,600 MT with 3,500 MT to South Korea.
