Cattle Mixed at Midday

Live cattle are higher in Dec and Oct so far with 7 to 25 cent losses in the 2021 expiry months. Feeders are trading 15 to 85 cents lower at midday. The CME Feeder Cattle Index was $142.60 which was 11 cents weaker. Cash trade for the Friday has been reported at $109 in TX. KS bids were at $108 earlier today, the bulk of trade has been $108 for the week. USDA released the monthly estimate for 2020 beef production. The October update is 90 million lbs higher for a 27.138 billion lb total. 2021 production is forecasted at 27.365 billion lbs. Wholesale boxed beef prices were lower this morning. Choice boxes were 93 cents lower. Select boxes were down by $2.28 cwt. The week’s FI cattle slaughter is estimated at 472,000 head, up 1000 from the same point last year.

Oct 20 Cattle are at $110.050, up $0.350,

Dec 20 Cattle are at $112.975, up $0.350,

Feb 21 Cattle are at $114.925, down $0.075,

Oct 20 Feeder Cattle are at $137.900, down $0.150

Nov 20 Feeder Cattle are at $135.925, down $0.525

Jan 21 Feeder Cattle are at $134.250, down $0.725

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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