Cattle Futures Down 2.5% Last Week

Live cattle futures closed the Friday session down by $0.62 to $1.10 in the front months. For October, the weekly loss was 2.5%. October futures expire in two weeks. 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. 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 lower on Friday. 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.

--- provided by Brugler Marketing & Management

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