Cattle Down Triple Digits

Live cattle futures are down 92 cents to $2 at midday, with Dec the weakest. As of Friday, there were still just 9 deliveries against October live cattle futures, preliminary OI was at 9,979 contracts. Feeder cattle futures are also showing triple digit weakness with midday losses of $0.55 to $1.40. The CME Feeder Cattle Index was down 68 cents to $141.92 on 10/8. Friday cash trades were from $107 to $110, mostly at $109. Wholesale boxed beef prices were strengthened on Monday morning. The Chc/Sel spread tightened to $13.69, as Choice boxes were $1.15 higher compared to the $1.70 stronger Select boxes. The week’s FI cattle slaughter is estimated at 637,000 head through Saturday. That is 11k head below the same week a year ago.

Oct 20 Cattle are at $108.100, down $1.775,

Dec 20 Cattle are at $110.600, down $2.000,

Feb 21 Cattle are at $113.075, down $1.225,

Oct 20 Feeder Cattle are at $137.350, down $0.900

Nov 20 Feeder Cattle are at $134.975, down $0.550

Jan 21 Feeder Cattle are at $133.075, down $0.925

--- provided by Brugler Marketing & Management

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