Cattle Market Lower at Midday

Cattle futures are trading 37 to 82 cents lower at midday with December the weakest. October cattle options expire today, with 108 the most obvious pin target. Some feeder cattle futures are down triple digits ahead of the weekend. The 9/30 CME Feeder Cattle Index was 20 cents lower at $142.38. There have not been any reported Friday cash cattle sales yet, southern bids were reported at $107. Trade this week has been wide from $103 to $109, with the bulk of sales near $107. Wholesale boxed beef prices were up again on Friday morning. Choice boxes were $1.17 higher, and Select boxes were up 43 cents. Federally inspected cattle slaughter for the week through Thursday was 478,000 head.

Oct 20 Cattle are at $108.150, down $0.375,

Dec 20 Cattle are at $111.000, down $0.825,

Feb 21 Cattle are at $114.775, down $0.700,

Oct 20 Feeder Cattle are at $140.025, down $0.900

Nov 20 Feeder Cattle are at $140.075, down $1.175

Jan 21 Feeder Cattle are at $137.925, down $1.625

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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