U.S. Cattle Report - Wednesday, July 30th

🔥Cash Trade In Kansas At $235; Boxed Beef Down $34.50 Since June 27th  ðŸ”¥

Negotiated cash cattle trade was limited on Wednesday, with moderate demand noted in Kansas, where a few early purchases were reported at $235.00. However, volume was insufficient for an adequate market test. The last established market in Kansas was $230.00–$232.00. Trade remained mostly inactive in all other major feeding regions, also under moderate demand. In the Texas Panhandle, the most recent established trade occurred last week at $230.00–$232.00. Nebraska saw its last market with live purchases at $242.00–$245.00 and dressed sales at $380.00. In the Western Cornbelt, last week’s trade included live sales at $238.00–$242.00, mostly $240.00, and dressed sales at $380.00 on a light test.

Boxed beef prices continued to slide on Wednesday, with the Choice cutout down $2.20 to $361.99 and Select down $1.57 to $340.91. The Choice/Select spread narrowed slightly to $21.08, and total loads moved increased to 168, up from 118 the previous day. The Choice cutout is now down $34.50 from its June 27th high and has fallen to its lowest level since May 27th. On the primal side, the plate dropped another $5.87 to $269.65, and brisket declined to $304.37. Other notable movements included round at $315.51, chuck at $300.00, and rib easing to $520.76.

Cattle slaughter on Wednesday totaled 112,000 head, down 2,000 from the previous week and 8,496 fewer than the same day a year ago. Week-to-date slaughter reached 333,000 head, slightly above last week’s 331,000 but trailing the 357,395 head processed during the same period last year. Year-to-date, federally inspected cattle slaughter stands at 17,068,432 head, a 6.5% decline from 18,253,862 head at this point last year.

🔥Plate Drops $49 Since July 15th 🔥

The plate primal closed on Wednesday at $269.65, down $5.87 from the previous day. Since July 15th, when it was priced at $319.07, the plate has dropped a total of $49.42, marking a 15.5% decline over that span. 


 

Rob Cook, NationalBeefWire.com




Boxed beef prices continued to slide on Wednesday, with the Choice cutout down $2.20 to $361.99 and Select down $1.57 to $340.91. The Choice/Select spread narrowed slightly to $21.08, and total loads moved increased to 168, up from 118 the previous day. The Choice cutout is now down $34.50 from its June 27th high and has fallen to its lowest level since May 27th. On the primal side, the plate dropped another $5.87 to $269.65, and brisket declined to $304.37. Other notable movements included round at $315.51, chuck at $300.00, and rib easing to $520.76.