Live cattle futures posted losses of 85 cents to $1.12 at midday, as markets pulled back despite a notable jump in weekly beef export sales.
The Central Stockyards Fed Cattle Exchange online auction recorded no sale on the 1,614 head offered, with bids coming in at $184 via the BidTheGrid method.
Feeder cattle futures declined by a nickel to $1.05 on the day, with the CME Feeder Cattle Index slipping 9 cents to $247.29 as of October 1.
The USDA reported beef export sales of 22,542 metric tons for the week of September 26, marking a seven-week high for the category.
South Korea led all buyers with 7,900 metric tons purchased, while China followed with 6,200 metric tons in purchases for the same reporting period.
Export shipments reached a calendar year high of 17,739 metric tons, with significant volumes directed to South Korea, Japan, and China at 4,100, 4,000, and 2,900 metric tons respectively.
USDA wholesale boxed beef prices were mixed in the Thursday morning report, with Choice boxes falling 32 cents to $299.49 per hundredweight and Select rising 55 cents to $284.48.
The Choice/Select spread narrowed to $15.01, reflecting the divergent price movement between the two grades in Thursday’s session.
The USDA estimated Wednesday’s federally inspected cattle slaughter at 124,000 head, bringing the weekly total to 367,000 head through that point.
That weekly slaughter figure came in 4,000 head above the previous week but remained 6,888 head below the comparable week from the prior year.
October 2024 Live Cattle settled at $186.575, down $0.850, while December 2024 Live Cattle also sat at $186.575, down $1.125 on the session.
February 2025 Live Cattle futures were priced at $187.550, a decline of $0.850, reflecting continued softness across the forward curve for live cattle contracts.
October 2024 Feeder Cattle came in at $248.675, down $1.050, with November 2024 Feeder Cattle at $247.700, reflecting an $0.850 decline on the day.
January 2025 Feeder Cattle futures held relatively steady at $242.025, posting a modest decline of just $0.050 compared to other nearby contracts.
