Cattle Lower at Midday

Live cattle futures are weaker by $0.47 to $1.35 so far. Front month feeder cattle futures are also in the red, with midday losses of 55 cents to $1.12. The October 12 Feeder Cattle Index from CME was down another 52 cents to $140.71. The FCE weekly online cattle auction sold 671 of the 774 head listed mostly at $108 and $108.25. The range of cash sales nationally has been $104 - $109 so far this week, with the bulk at $108. Dressed deals were reported at mostly $169. Wholesale boxed beef prices were mixed in the AM update, tightening the spread to $11.55. Choice boxes were down by 68 cents to $211.76 cwt. and Select boxes were 13 cents stronger at $200.21. Tuesday’s FI cattle slaughter was estimated at 120,000 head, setting the week’s kill at 237k. WTD slaughter is 1,000 head above last week’s pace and 3,000 head above the same week a year earlier.

Oct 20 Cattle are at $108.175, down $0.650,

Dec 20 Cattle are at $109.875, down $1.350,

Feb 21 Cattle are at $112.775, down $0.875,

Oct 20 Feeder Cattle are at $137.100, down $1.025

Nov 20 Feeder Cattle are at $136.025, down $0.800

Jan 21 Feeder Cattle are at $133.100, down $1.125

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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