Cattle Market in Red so far

Live cattle futures are down 25 to 55 cents in the front months at Thursday’s midday. Feeder cattle futures are down 17 to 70 cents as well. The CME Feeder Cattle Index was $142.71 on 10/6, down by 41 cents. USDA reported light trade at $107-$108.50 and $169 dressed on Wednesday. Some reported bids are $107 with asks at $110. Beef bookings from the weekly Export Sales report were 20,691 MT. The report also showed 2,200 MT sold for 2021 delivery, mostly to Japan with 500 MT to Canada. Total beef export commitments for 2020 are 4% above last year’s pace at 784k MT. Wholesale boxed beef prices were mixed in the AM update. Choice boxes were down 75 cents, and Select boxes were firm at $205.58 cwt. The week’s FI slaughter is estimated at 355,000 head, up one from last year’s pace.

Oct 20 Cattle are at $109.825, down $0.350,

Dec 20 Cattle are at $112.850, down $0.250,

Feb 21 Cattle are at $115.600, down $0.325,

Oct 20 Feeder Cattle are at $138.325, down $0.175

Nov 20 Feeder Cattle are at $137.500, down $0.375

Jan 21 Feeder Cattle are at $135.725, down $0.600

--- 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.