Live cattle futures are falling lower on Friday pressured by weaker cash and the Tyson closure, as contracts are down $3.12 to $5. Cash trade has been picked up with some $228-230 sales in the North. The Friday morning Fed Cattle Exchange auction showed no sales on the 1,308 head offered, with bids dropping to $222-225 live and 350 dressed. Feeder cattle futures are trading with $3.15 to $6.40 losses at midday. The CME Feeder Cattle Index was back up $3.44 on August 12 to $351.93.
Late on Thursday, Tyson announced it will shut its Joslin, IL plant (3,000 hd/day) and sell it’s Pasco, WA plant (2,000 hd/day). They also announced the Amarillo, TX plant will ramp up production after cutting back kill last fall.
