Cattle Recover some with Gains

Live cattle futures were 32 to 67 cents higher on the board. October fats ended the day a dollar stronger @ $105.85. Feeder cattle maintained the triple digit gains, closing $1.47 to $1.60 higher in the front months. October feeders were a $1.85 premium to the day lagged index with one trade day before expiration. The 10/27 CME Feeder Cattle Index was $133.32, down by 32 cents. USDA confirmed cash sales for the week are just 3.2% of last week’s activity. The wide range is from $101 to $106.25, but USDA reported the average for the 988 head sold at $101.54. The delayed FCE online auction sold 1,275 of the 2,012 head listed. Those Sales ranged from $105.50 to $106.25 with the wtd av price of $105.95. USDA’s wholesale boxed beef prices were mixed again this afternoon, tightening the Chc/Sel spread to $16.21. Choice boxes were down 91 cents, and Select boxes were 91 cents higher. USDA estimates the week’s cattle slaughter at 350,000 head through Wednesday. That is 10,000 head lower wk/wk but up 3,000 from the same week last year.

Dec 20 Cattle closed at $104.675, up $0.625,

Feb 21 Cattle closed at $107.700, up $0.675,

Apr 21 Cattle closed at $111.375, up $0.650,

Nov 20 Feeder Cattle closed at $133.900, up $1.600

Jan 21 Feeder Cattle closed at $129.950, up $1.525

Mar 21 Feeder Cattle closed at $129.525, up $1.475

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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