Live cattle futures are holding onto 62 cent to $1.25 gains, s expiring August is back up $4.90. There were 20 deliveries retendered on Thursday. Preliminary open interest was up 2,057 contracts, suggesting new selling interest. Cash trade has been limited so far this week, with a few bids of $245 in the north reported and light sales of $240-242 in KS. Friday morning’s Fed Cattle Exchange online auction showed sales on 430 head of 1,220 head listed at $242. Feeder cattle futures are trading with losses of 50 cent to $1.125 at midday. The CME Feeder Cattle Index was up another $4.55 to $365.23 on August 27.
USDA Wholesale Boxed Beef prices were mixed in the Thursday afternoon report, with the Chc/Sel spread at $23.80. Choice boxes were down $1.22 at $413.19, while Select was $3.55 lower to $389.39. USDA estimated cattle slaughter for Thursday was 118,000 head, with the weekly total at 462,000 head. That was up 12,000 head from last week but 21,015 head lower vs. the same week in 2024.
