Cattle Market Whacked by Higher Feed Costs

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. USDA reported light cash cattle sales activity on Wednesday from $104 to $107, with dressed at $167. 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.

--- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.