Live cattle retreated lower on Thursday with contracts closing 35 cents to $1.05 in the red. August fats were still at a net 15 cent for the week’s net move into Friday. USDA reported solid cash trade volume mostly $3 to $4 higher for Thursday, from $188 in the WCB and from $180-$181 in the South. Thursday’s FCE auction had 1,614 head listed for sale. Only a few bids were picked up at $177-178 on 3 Texas lots, but no sales on asks of $180-183. Feeder cattle ended the day off their highs for a $5.70 trading range. At the close the board was $0.60 to $1.70 in the red. The CME Feeder Cattle Index was 65 cents weaker on 7/19 at $237.83.
This morning’s Export Sales report showed the 4th largest sale total this year at 20,943 MT, more than double last week’s total. South Korea was the top buyer of 7,800 MT, with Mexico at 4,100 MT. Weekly shipments totaled 16,230 MT, up from last week. The top destinations were Japan with 4,200 MT, South Korea with 3,600 MT and 3,300 MT on its way to China.
