Cattle Gain Triple Digits

Front month live cattle futures closed the session up by $0.87 to $1.47. Feeder cattle futures were also up by triple digits, closing $2 to $2.67 higher. The CME Feeder Cattle Index was $142.36 on 9/28, down 25 cents. Cash sales activity for the week has been minimal, but USDA reported a few higher graded cattle sold at $106. FCE’s online cattle auction has 901 head listed so far for tomorrow’s sale. Wholesale boxed beef prices were mixed in the PM update, tightening the Chc/Sel spread to $10.17. Choice boxes were 56 cents lower, and Select boxes were up by 57 cents. Choice rib primals were quoted at $381.45 cwt. and Select was $348.51. Choice loins and briskets were $294.29 and $162.03, with $22.14 and $15.39 premiums over Select respectively. USDA’s estimate for Tuesday’s federally inspected cattle slaughter is 120,000 head. WTD slaughter is 238k, which is down 3k head from last week but 4k head above the same week last year.

Oct 20 Cattle closed at $108.900, up $0.950,

Dec 20 Cattle closed at $113.125, up $1.475,

Feb 21 Cattle closed at $116.225, up $1.200,

Oct 20 Feeder Cattle closed at $142.925, up $2.000

Nov 20 Feeder Cattle closed at $143.775, up $2.675

Jan 21 Feeder Cattle closed at $141.675, up $2.525

--- provided by Brugler Marketing & Management

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