Cattle Mostly Lower Heading into Options Expiration

Cattle futures closed the Thursday session 52 cents lower to 22 cents higher in the front months. Feeders were lower on Thursday with losses of 42 to 80 cents. The 9/30 CME Feeder Cattle Index was 20 cents lower at $142.38. The wide cash range continued for Thursday, with live sales reported from $104 to $109 and $164 to $169 dressed. The majority of sales have been near $107. October cattle options expire today. Wholesale boxed beef prices were up again this afternoon. Choice boxes were $1.24 higher, and Select boxes were up 8 cents. Federally inspected cattle slaughter for the week through Thursday was 478,000 head. That trails last week’s pace by 4k head, but is up 8,000 from the same week last year.

--- provided by Brugler Marketing & Management

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