Cattle Continue to Crawl Higher

Live cattle futures traded with triple digit gains yesterday, but only Dec contracts held it at the close. The other months ended 15 to 97 cents higher. CME noted 1 re-tender against October futures, deliveries scheduled so far is 9. Feeder cattle futures recovered from midday losses and ended the session 5 to 37 cents in the black. The CME Feeder Cattle Index was $142.71 on 10/6, down by 41 cents. Outside of the FCE, USDA reported light trade at $107-$108 in NE and the WCB. Wholesale boxed beef prices were mixed, widening the spread to $11.30. Choice boxes were $216.88 this afternoon, up by $0.64 cwt. Select boxes were down $1.26 cwt. The week’s FI slaughter is estimated at 355,000 head, up one from last year’s pace.

--- provided by Brugler Marketing & Management

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