Cattle futures closed strongly on Friday as traders weighed tight supplies and healthy packer margins amid lower cash beef prices . CME August live cattle futures ended the day 1,600 cents higher at 214,050 cents a pound, while August feeder cattle futures ended the day up 0.475 cent at 309,500 cents a pound.
The announcement of news of a phased resumption of imports from Mexico promised to help bolster supplies in the coming months after concerns over MEAT maggotsFlies in herds south of the border halted cattle imports into the U.S. on May 11.
Wholesale boxed beef prices were lower in the USDA report Thursday, with the Chc/Sel spread narrowing to $11.31. Choice beef fell $5.11 to $389.75, while Select was quoted $1.87 lower at $378.44. USDA federally inspected cattle slaughter was estimated at 115,000 HEAD Thursday, for a weekly total of 475,000 head. That was up 23,000 head from the previous week and 112,964 head more than the same week last year.
WEEKLY COST OF CUT OUT CAT.CHOICE
CATTLE SALES
Sale of cattle, heads
Average weight
Week 26
Week 27
Growth per week,%
Week 26
Week 27
Growth per week,%
Bulls (live weight)
8 414
14 067
67.2%
1,473
1,472
-0.1%
Heifers (live weight)
2 351
5 299
125.4%
1 321
1 324
0.2%
Bulls (slaughter weight)
4 675
3 844
-17.8%
9 965
9 965
0.0%
Heifers (slaughter weight)
943
345
-63.4%
877
852
-2.9%
WEEKLY WEIGHTED AVERAGE BULL PRICE
BEEF PRODUCTION
Indicator
Week 27
Previous week
A year ago
Growth per week,%
Growth per year, %
Volume of cattle slaughter
560,000
560,000
610,000
0.0%
-8.2%
Live weight
1 415
1 419
1 378
-0.3%
2.7%
Slaughter weight
865
868
841
-0.3%
2.9%
Beef Production (million pounds)
484.0
485,0
512.0
-0.2%
-5.5%
WEEKLY CHOICE/SELECT PRICE SHOULDER
CME: Live Cattle Futures
Week 26
Week 27
Growth per week,%
August
213.30
214.05
0.4%
October
209.82
210.90
0.5%
December
210.13
211.25
0.5%
CME: Feeder Cattle Futures
August
307.90
309.50
0.5%
September
307.90
309.38
0.5%
October
305.25
307.15
0.6%
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