Live cattle futures saw their fair share of selling on Friday, with contracts down $1.90 to $2.07 across the front months. Cash trade has been slow this short week, with the South kicking things off at $181, down $2 on the week. Northern sales were light with $180-183 reported this week by the USDA. Feeder cattle futures followed right along, with $2.85 to $3.65 losses to round out the week. The CME Feeder Cattle Index was up 91 cents at $242.18 on September 5. 

Export Sales data showed bookings of 16,529 MT in the week of August 29, which was down from the week prior. Japan was the largest buyer of 7,700 MT, with 2,100 MT sold to Taiwan. Shipments were 14,905 MT in that week, which was a 4-week high. A total of 3,600 MT was headed to Japan, with 3,200 MT on its way to South Korea.

CFTC data showed managed money in live cattle adding just 44 contracts to their net long position to 38,058 contracts by September 3. In feeder cattle, they were busy cutting 1,972 contracts from their net short to just 556 contracts as of Tuesday.
 

USDA wholesale Boxed Beef prices were lower in the Friday PM report. Choice boxes were down $2.10 @ $309.41, with Select 66 cents lower at $296.12. The Chc/Select spread narrowed to $13.29. USDA estimated this week’s federally inspected cattle slaughter at 542,000 head. That is well below the previous week due to the holiday and 16,921 head below the same week last year.

Oct 24 Live Cattle  closed at $175.175, down $2.075,

Dec 24 Live Cattle  closed at $174.700, down $2.025,

Feb 25 Live Cattle  closed at $175.400, down $1.925,

Sep 24 Feeder Cattle  closed at $234.300, down $2.825,

Oct 24 Feeder Cattle  closed at $230.950, down $3.625,

Nov 24 Feeder Cattle  closed at $228.025, down $3.650,