Negotiated cash fed cattle trade was mainly slow on light demand through Thursday afternoon, according to the Agricultural Marketing Service. So far this week, live prices in the North are generally $1-$2 higher at $125-$127/cwt. Price are steady to $1 higher in the Southern Plains at $121-$122.
Choice boxed beef cutout value was $1.55 higher Thursday afternoon at $341.63/cwt. Select was $6.61 higher at $316.41/cwt.
Net U.S. beef export sales for the week ending Aug. 12 were 11,100 metric tons for 2021, according to USDA’s weekly U.S. Export Sales report. That was 18% less than the previous week and 42% less than the prior four-week average. Increases were primarily for Japan, South Korea, China, Taiwan, and Mexico.
Cattle futures softened Thursday. More than anything, pressure seemed mostly tied to weakness in outside markets and in commodities overall as fund managers assess the impact of surging COVID cases on economic growth.
Live Cattle futures closed an average of 53¢ lower (20¢ to 90¢)
Feeder Cattle futures closed an average of 38¢ lower (23¢ to 58¢ lower)
Corn futures closed an average of 13¢ lower through the front six contracts, then fractionally to 7¢ lower.
Soybean futures closed an average of 30¢ lower through the front six contracts, then mostly 8¢ to 25¢ lower.