In the USDA’s latest “U.S. Export Sales” report released Friday, beef net sales of 2,500 metric tons (MT) for 2013 were down noticeably from the previous week and 48 percent below the four-week average.
Increases were reported for Canada (600 MT), Mexico (500 MT), South Korea (400 MT), Hong Kong (200 MT), and Indonesia (200 MT).
Net sales of 9,200 MT for 2014 were reported for Japan (5,000 MT), South Korea (2,100 MT), and Canada (900 MT). Exports of 10,100 MT were primarily to Japan (2,100 MT), Mexico (2,100 MT), Hong Kong (2,100 MT), South Korea (1,800 MT), and Canada (700 MT).
Cattle futures turned higher Thursday in response to news of a fresh upward push in country prices. These prices sustained their advance overnight on next week’s forecast of arctic weather over the Great Plains.
February cattle futures rallied 0.20 cents to 135.82 cents/pound as Friday dawned over Chicago, while April futures ran up 0.20 to 136.00. Meanwhile, March feeder cattle futures surged 0.65 cents to 167.65 cents/pound, and May climbed 0.25 to 169.20.
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