Cattle Close in Red on Wednesday

Fat cattle futures ended 22 to 87 cents in the red. Feeders gave back some of the earlier gains, but still closed 25 to 37 cents higher. October feeders closed Wednesday with a dime loss and 1,463 contracts open. They are still anticipating a big drop in the CME Index over the next week. The 10/20 Feeder Cattle Index dropped 30 cents to $138.36. The FCE online cattle auction sold 702 of the 1,096 listed. The cattle sold were mostly $106.50, but one pen went for $106.25. Cash sales in NE picked up on Wednesday with $104-$105 live and $162-$165 dressed The range for the week has been $102 to $106.50. Trader estimates ahead of the monthly USDA CoF report have a 3.2% increase to Oct 1 on feed. Placements are estimated to increase 2.4% from September 19. September marketings are estimated at 5.8% above ’19. Wholesale boxed beef prices were weaker in the PM report. Choice boxes were quoted at $208.47, down by $2.13 cent. Select boxes were 76 cents weaker to $190.91. USDA estimates 360,000 cattle were slaughtered for the week through Wednesday. That compares to 356k LW and 355,000 head LY.

Oct 20 Cattle closed at $103.650, down $0.475,

Dec 20 Cattle closed at $104.575, down $0.875,

Feb 21 Cattle closed at $108.075, down $0.575,

Oct 20 Feeder Cattle closed at $134.400, down $0.100

Nov 20 Feeder Cattle closed at $131.150, up $0.375

Jan 21 Feeder Cattle closed at $127.075, up $0.375

--- provided by Brugler Marketing & Management

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