Cattle Close in Red on Friday

Live cattle futures closed the Friday session down by $0.62 to $1.10 in the front months. For October, the Friday loss extended the week’s move to minus 2.5%. October futures expire in two weeks; deliveries were still only 9 contracts through the 15th. Feeders closed with $0.82 to $2.77 losses in the front months. The October 15 Feeder Cattle Index from CME dropped back 69 cents to $140.22. Clean up business in the cash market was very thin on Friday, from $106-$107. Dressed deals on Friday were also thin but from $166-167. We were mostly near $108 with the wtd ave price at $107.61. 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 reported lower in USDA’s afternoon update. Choice boxes were $0.45 lower to $210.03 cwt. and Select boxes fell back another $2.98. USDA estimates FI cattle slaughter for the week through Saturday at 654k head. That is up 17,000 wk/wk and 11k above last year.

Oct 20 Cattle closed at $107.150, down $0.625,

Dec 20 Cattle closed at $108.625, down $0.925,

Feb 21 Cattle closed at $111.475, down $0.950,

Oct 20 Feeder Cattle closed at $138.100, down $0.825

Nov 20 Feeder Cattle closed at $135.025, down $1.450

Jan 21 Feeder Cattle closed at $129.325, down $2.775

--- provided by Brugler Marketing & Management

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