Cattle Higher at Tuesday Close

At the closing bell front month live cattle futures were $0.62 to $1.25 higher. October gained $0.87 on the day, to close at $104.85. Through 10/26, deliveries against October live cattle futures remained at 9. Feeder cattle futures gave back some of the early gains but still ended $1.60 to $1.72 higher. October feeders are 66 cents above the day lagged index (@$134.30) with two trade days left before expiration. The 10/26 CME Feeder Cattle Index was $133.64, down another 6 cents. USDA reported cash trades have yet to establish a trend for the week through Tuesday. Tomorrow’s weekly sale on the FCE has 2,012 head of cattle listed. USDA reported wholesale boxed beef prices at $206.70 cwt. and $188.67 cwt. for Choice and Select respectively. That tightened the spread $1.31 by way of a $1.13 drop in Choice and an 18 cent bump to Select. Tuesday’s FI cattle slaughter was at 117,000 head. After revising Monday 3k lower, the WTD slaughter is estimated at 232,000 head. That is down 7,000 from last week but up 3,000 yr/yr.

Dec 20 Cattle closed at $104.050, up $0.650,

Feb 21 Cattle closed at $107.025, up $0.625,

Apr 21 Cattle closed at $110.725, up $1.225,

Nov 20 Feeder Cattle closed at $132.300, up $1.725

Jan 21 Feeder Cattle closed at $128.425, up $1.650

Mar 21 Feeder Cattle closed at $128.050, up $1.600

--- provided by Brugler Marketing & Management

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