Cattle Weaker on Wednesday

Live cattle futures closed the midweek session with 22 to 77 cent losses in the front months. Feeder cattle futures fell triple digits on higher corn, with 0.77% to 1.2% losses on the day. The CME Feeder Cattle Index was $142.58 on 9/29, back up by 22 cents. Sales from this morning’s FCE auction saw action for each lot listed, three feedlots passed on $104 offers and 358 head were sold at $106. USDA reported light cash cattle sales activity on Wednesday from $104 to $107, with dressed at $167. Not enough sales this week for a trend, but the bulk of activity has been $106-$107. Wholesale boxed beef prices were higher in the PM update. Choice boxes were up 58 cents to $217.74 cwt. Select boxes were 55 cents stronger at $207.54. Federally inspected cattle slaughter for the week through Wednesday was 358,000 head. That trails last week’s pace by 3k head, but is up 5,000 from the same week last year.

Oct 20 Cattle closed at $108.550, down $0.350,

Dec 20 Cattle closed at $112.350, down $0.775,

Feb 21 Cattle closed at $115.875, down $0.350,

Oct 20 Feeder Cattle closed at $141.350, down $1.575

Nov 20 Feeder Cattle closed at $142.050, down $1.725

Jan 21 Feeder Cattle closed at $140.300, down $1.375

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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