Cattle Market Sees Mixed Beef Interest

Live cattle futures were 32 to 67 cents higher on Wednesday, swimming against the bearish current in the ag commodities. 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 Index. They expire today. 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 FCE online auction sold 1,275 of the 2,012 head listed, with a wtd average price of $105.95. USDA’s wholesale boxed beef prices were mixed again in the PM update - 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.

--- provided by Brugler Marketing & Management

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