Live cattle futures are posting gains of $1.20 to $1.30 in the front months so far on Thursday. Cash trade crept in on Tuesday and Wednesday with some southern trade at $183-184 and northern action at $293-295 in the beef. Bids in NE have been reported at $184. The Central Stockyards Fed Cattle Exchange saw no sales on the 1,736 head, with bids of $182-183 on Thursday.  Feeder cattle futures are up $2.30 to 2.60 at midday. The CME Feeder Cattle Index was down 12 cents at $243.73 on August 20. 

Beef Export Sales totaled 15,855 MT in the week of 8/15, down sharply from last week. Shipments were a MY low at 12,498 MT.

A Reuters survey of analysts shows expectations of July feeder cattle placements up 3.2% from a year ago, as marketings are expected to be 8.1% larger than July 2023. August 1 on feed inventory is estimated as steady with last year. The Cattle on Feed report will be released on Friday afternoon. 

USDA wholesale Boxed Beef were back higher in the Thursday AM report. Choice boxes were $1.35 at $316.56, with Select products $1.69 higher @ $302.77. The Chc/Select spread was thus narrowed to $13.79. USDA estimated Wednesday’s federally inspected cattle slaughter at 122,000 head, with the weekly total at 363,000. That is up 7,000 head from the previous week but 3,256 head below the same week last year.

Aug 24 Live Cattle  are at $182.450, up $1.225,

Oct 24 Live Cattle  are at $175.925, up $1.300,

Dec 24 Live Cattle  are at $175.525, up $1.250,

Aug 24 Feeder Cattle  are at $241.625, up $2.375

Sep 24 Feeder Cattle  are at $238.125, up $2.450

Oct 24 Feeder Cattle  are at $234.300, up $2.625