Cattle Falling More at Midday

Front month cattle futures are trading with midday losses of 25 cents to $1.17. Feeder cattle futures are also in the red with 10 to 90 cent losses so far. The 10/20 Feeder Cattle Index dropped 30 cents to $138.36. The range for cash sales this week has been $102 to $106.50 – mostly $104 to $106. Trader estimates ahead of the monthly USDA CoF report (Friday) have 11.65 million head (+3.2%) on feed on Oct 1. Export Sales data showed 21,717 MT of beef sold on the week ending 10/15. That was a 13 week high, and 57% above the same week last year. Accumulated beef exports now outpace 2019 by 1.17% with 649,622 MT shipped through 10/15. Wholesale boxed beef prices were stronger this morning. Choice boxes were up $1.05 and Select was $1.03 higher. 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 are at $103.400, down $0.250,

Dec 20 Cattle are at $103.675, down $0.900,

Feb 21 Cattle are at $106.950, down $1.125,

Oct 20 Feeder Cattle are at $134.300, down $0.100

Nov 20 Feeder Cattle are at $130.625, down $0.525

Jan 21 Feeder Cattle are at $126.250, down $0.825

--- provided by Brugler Marketing & Management

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