Cattle Today

09.10 Markets

Cattle

October LC day 3 of a sell signal. December LC day 3 of a sell signal. November FC: day 3 of a sell signal.
Cattle trends are negative in live cattle, negative feeder cattle.
Cattle had a sharp rebound to start the week.
Live cattle and feeder cattle futures rallied on short covering on Monday. Higher-than-expected US boxed beef prices and strength in the stock market helped to support gains
Boxed beef was lower in the choice.
Feeder index trending higher.
Beef processors are monitoring cattle inventories after the US herd in 2024 dropped to its lowest level in decades. Dry weather prompted producers to send more animals to slaughter in recent years, with tight supplies hurting margins for beef processors such as Tyson Foods.
Cash outlook steady this week.
In OK, feeder steers are down $1 to $5 compared to two weeks ago. Feeder heifers over 800 pounds are lightly tested, but have a firm undertone. Feeder heifers under 800 pounds are $2 to $7 lower. Steer and heifer calves are $5 to $10 lower. Medium and Large 1 feeder steers 553 to 597 pounds brought $265 to $283 and feeder steers 672 to 699 pounds brought $244 to $262. Medium and Large 1 feeder heifers 559 to 594 pounds brought $235 to $250 and feeder heifers 783 to 793 pounds brought $222.50 to $227.50.
Exports of U.S. beef continued to build momentum in July, according to data released by USDA and compiled by the U.S. Meat Export Federation.
July beef exports totaled 110,419 metric tons, up 7% from a year ago and the second largest of 2024. Export value climbed 12% to $910.9 million, also the second highest this year. July growth was fueled primarily by strengthening demand in Japan, Taiwan, Mexico and the Middle East and ASEAN regions.
“U.S. beef has weathered severe headwinds in Asia and especially in Japan, but the outlook for the remainder of the year is encouraging. July was also another impressive month for Mexico, which continues to display excellent demand for an expanding range of U.S. beef cuts and variety meats.”
Feeder Cattle Index: $243.92 vs $242.18 prior.
Slaughter 123,000, 120,000 wk ago, 124,000 prior.
Boxed Beef: Choice 308.52, -0.89, Select 298.49, 2.37, Ch/Se spread 10.03 Loads 141.

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