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:

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