Cattle Market Weaker at Midday

Friday live cattle futures are down 40 to 95 cents so far. Feeders are down triple digits on strength in corn. The October 14 Feeder Cattle Index from CME was a penny weaker at $140.91. USDA noted Thursday deals were light, from $105 - $108. The bulk of cash trade for the week has been near $108. Beef export bookings were down 35% wk/wk with just 13,438 MT sold. Japan and Mexico were the top buyers in the weekly update. USDA’s weekly Export Sales report showed 16,169 MT were shipped on the week, pushing YTD exports to 631,838 MT. Wholesale boxed beef prices were mixed on Friday morning. Choice boxes were $0.18 higher to $210.66 cwt. and Select boxes fell back another $1.90. USDA estimates FI cattle slaughter for the week through Thursday at 476k head. That is up 4,000 wk/wk and 14k above last year.

Oct 20 Cattle are at $107.375, down $0.400,

Dec 20 Cattle are at $108.900, down $0.650,

Feb 21 Cattle are at $111.725, down $0.700,

Oct 20 Feeder Cattle are at $138.200, down $0.725

Nov 20 Feeder Cattle are at $135.525, down $0.950

Jan 21 Feeder Cattle are at $130.100, down $2.000

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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