Live cattle futures ended the Thursday session with triple digit losses of 0.7% to 1.1%. The Dec contract now sits $6.75 under the LoC high. Cash trade was shown from $182 to $187 on Thursday with 20k head traded. USDA mentioned the bulk in KS was near $184 and mostly $186 ($294 dressed) for NE. Feeder cattle futures finished the Thursday trading session with $5 losses of over 2%. That was a new low for the move for Nov, now $23 below the contract high. March feeders still have a $4.70 premium built into the market. The 10/18 CME Feeder Cattle Index was $2.27 weaker to $244.83.
The week’s beef bookings were shown at just 425 MT, the lowest weekly total since Nov 2020 led by cancelations from China, Mexico, and Canada. USDA listed the week’s export at 13,650 MT for a YTD total of 644,428 MT.
