Feeder Cattle Futures PricesFri, Oct 21st, 2016
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Live cattle futures were sharply higher on Thursday with both Oct16 and Dec16 up $3/cwt, bouncing back from their their triple digit losses from Wednesday. Feeders also logged big gains with the Nov16 contract up more than $4. USDA's monthly Cattle on Feed report is due out today after the close. The CME feeder cattle index for 10/18 was down 11 cents at $119.97. Boxed beef prices were lower again on Thursday. The choice average slipped another 55 cents, and the select price was $1.85 lower. Cash cattle trade picked up, with an average price of $98.31 for all grades of steers. Reported dressed sales averaged $154.16, but reporting was much thinner than the live sales. WTD slaughter is estimated at 455,000 head, 1,000 head more than a week earlier and 13,000 head larger than a year ago. Weekly beef export sales for 2016 were up 21.8% vs. the previous week. Shipments were 13,615 MT, slipping 2.8% from last week.
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