Cattle Pressured Lower on Thursday

 

Alan Brugler, Barchart

Jul 28, 2022

 

Live cattle futures slipped 12 to 62 cents in the front months on Thursday, with deferred contracts up 2 to 25 cents. The USDA saw some light to moderate Thursday cattle trade at mostly $138 in NE and $135 in the South, WCB sales have been $140-$145 for the week. Feeder cattle futures were pressured by corn strength, with 87 cents to $1.85. The CME Feeder Cattle Index was up by $1.91 to $172.55 on 7/27. 

 

USDA’s weekly FAS data showed beef bookings were 25.3k MT during the week that ended 7/21. That was a 6% increase wk/wk and a 66% increase from the 4-week average. South Korea and Japan were the top buyers for the week, each with over 7k MT. Beef shipments from the report were also 20.3k MT, again led by shipments to South Korea and Japan. 

 

USDA’s Wholesale Boxed Beef prices faded again on Wednesday afternoon by 22 cents in Choice and another $1 for Select. USDA saw FI cattle slaughter as 495,000 head for the week through Thursday. That compares with 497k head last week and 477k head during the same week last year. 

 

more, including links

https://www.barchart.com/story/news/9384492/cattle-pressured-lower-on-thursday