Live cattle futures closed Thursday with losses of $2 to $3.37. Cash trade has started to pick up this week, with a few $365 dressed sales in the North, down $5 on the week and live action at 232-235, $3-4 lower. Southern trade has been $237, down $3. The Thursday morning Fed Cattle Exchange online auction showed no sales on the 2,144 head offered, with bids at $232. Feeder cattle futures were up a nickel in expiring September but down $4.40 to $5.57 across the rest of the board. The CME Feeder Cattle Index was up $2.79 at $364.10 on September 24.
Export Sales data showed just 8,446 MT of beef sold in the week ending on 9/18, a 6-week low. Japan was the buyer of 2,000 MT, with Mexico buying 1,800 MT. Shipments saw a slight drop from last week to 12,465 MT. Japan was destined for 3,400 MT, with 2,900 MT headed to South Korea.
