Cattle Shrug Off Early Session Weakness at Midday
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Live cattle futures are experiencing losses of $1.55 to $2.70 at midday, recovering from early lows. Cash trade has recorded $256 sales this week, with feeder cattle futures down $4.40 to $4.80. The CME Feeder Cattle Index decreased by 14 cents to $375.19. Weekly beef export sales were 10,005 MT, the second lowest this year, while shipments reached a six-week high at 14,207 MT. Wholesale boxed beef prices fell, with Choice boxes down $2.04 to $387.58. USDA estimated cattle slaughter at 108,000 head, totaling 313,000 for the week, down from last week and last year.
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