Live cattle futures fell lower on Thursday, as the bears got a head start to the week-end selling. Contracts were down $2.20 to $3 across the front months on Thursday. Cash trade has been light this week, with light dressed trade at $384-386 in the North, with live action at $243-245. Southern bids have been picked up at $233. The Thursday morning Fed Cattle Exchange online auction showed no sales on the 1,188 head offered, with southern bids at $232. Feeder cattle futures closed with $5.175 to $5.60 losses across the front months on Thursday. The CME Feeder Cattle Index was up another $1.92 to $346.01 on August 13.
USDA Export Sales data showed a total of just 4,282 MT of beef sold in the week ending on August 7, a calendar year low. Japan was the buyer of 3,200 MT, with South Korea next up at 500 MT. Actual shipments were a 4-week low at 11,358 MT. The top destination was Japan at 3,900 MT, with 3,300 MT headed to South Korea.
