Cattle Higher ahead of Expiration

October live cattle futures, which expire tomorrow, are 80 cents higher at $106.65. The other front months are up triple digits. For the last trading day of October feeders, the remaining contracts are worth $135.95 at midday. The other front months are also trading in the black with gains from 32 cents to $1.30. The 10/27 CME Feeder Cattle Index was $133.32, down by 32 cents. Cash sales on Wednesday remained light, but mostly $105-106. Beef export sales were reported at 18,853 MT for the week ending 10/22. That was down from 21.7k MT LW but still 19.8% higher yr/yr. Beef shipments are 666,564 MT for the year through 10/22. That outpaces 2019 by 1.5%. USDA’s wholesale boxed beef prices were stronger in the AM update. Choice boxes were $1.50 higher and Select boxes were up $1.99. USDA estimated the week’s cattle slaughter at 350,000 head through Wednesday. That was 10,000 head lower wk/wk but up 3,000 from the same week last year.

Dec 20 Cattle are at $106.500, up $1.825,

Feb 21 Cattle are at $109.350, up $1.650,

Apr 21 Cattle are at $112.650, up $1.275,

Nov 20 Feeder Cattle are at $135.200, up $1.300

Jan 21 Feeder Cattle are at $130.300, up $0.350

Mar 21 Feeder Cattle are at $129.850, up $0.325

--- provided by Brugler Marketing & Management

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