Barchart cattle futures traders are closely monitoring export

Barchart cattle futures traders are closely monitoring export data, with recent shipments to Asia showing year-over-year growth. Strong foreign demand could underpin current price levels despite seasonal production increases. USDA Wholesale Boxed Beef prices were lower on Monday afternoon, with the Chc/Sel spread widening to $21.79. Choice boxes were down 75 cents at $370.68, while Select was $3.55 lower to $348.89. USDA federally inspected cattle slaughter on Monday at 113,000 head. That was 3,000 head above last week but 6,928 head below the same week in 2024. Live cattle futures saw some buying into the Friday close, with contracts up 50 cents to $1.025 and October down 77 cents this week. The Friday morning Fed Cattle Exchange showed no sales on the 2,552 head listed, with a few bids of $230-232. Outside of that, there has been some light cash trade at $230 in the North, down $2-5 from last week. A few Southern trades were completed late at $233, down $4. Feeder cattle futures posted $2.55 to $3.05 gains in the front months on Friday, as October was 17 cents higher this week. The CME Feeder Cattle Index was back up $0.94 at $362.57 on October 2. Live cattle futures on Barchart have held a steady uptrend since early June, supported by firmer slaughter rates. Analysts suggest a short-term target near $184 if demand for prime cuts persists through summer grilling season.