Cattle Pause As Beef Pulls Back A Step

Live cattle futures closed the session with $0.47 to $1 losses in the front months. Feeder cattle futures ended $1.35 to $1.42 lower. The CME Feeder Cattle Index was $142.60 which was 11 cents weaker. USDA reported another light day in the cash market, with $106-$108.50 trade reported. The bulk of sales this week have been $108. Beef bookings from the weekly Export Sales report were 20,691 MT. The report also showed 2,200 MT sold for 2021 delivery, mostly to Japan. Total beef export commitments for 2020 are 4% above last year’s pace at 784k MT. Wholesale boxed beef prices were lower on Thursday. Choice boxes were $216 flat after an 88 cent drop. Select boxes were down by $2.48 cwt. to $203.10. The week’s FI cattle slaughter is estimated at 472,000 head, up 1000 from the same point last year.

--- provided by Brugler Marketing & Management

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