Cattle Higher on Lower Feed

Live cattle futures are 7 to 45 cents higher at midday. Feeder cattle futures are trading with triple digit gains at midday. The 10/26 CME Feeder Cattle Index was $133.64, down another 6 cents. Cash trade has yet to establish for the week, the few deals that were reported were $101-$103 in WCB. Due to technical difficulties the Fed Cattle Exchange moved the online auction to tomorrow. There were still 2,012 head listed. USDA’s wholesale boxed beef prices were mixed in the AM update, tightening the spread to $16.12. Choice was 75 cents weaker and Select was up $1.16 cwt. 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 was down 7,000 from last week but up 3,000 yr/yr.

Dec 20 Cattle are at $104.475, up $0.425,

Feb 21 Cattle are at $107.325, up $0.300,

Apr 21 Cattle are at $111.050, up $0.325,

Nov 20 Feeder Cattle are at $133.500, up $1.200

Jan 21 Feeder Cattle are at $129.625, up $1.200

Mar 21 Feeder Cattle are at $129.150, up $1.100

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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