Feeder Cattle Futures PricesTue, Oct 6th, 2015
Latest Brugler Feeder Cattle Report
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Live cattle futures are currently trading limit up. Feeders are trading $4.25 to $4.50 higher this morning. The USDA reported improved pasture and range conditions this week, at 44% good to excellent (last week: 43%; 2014: 50%). The CME Feeder Cattle Index for 10/2 was down $5.13 to $182.76. Cash cattle trade was light on Monday, but averaged $116.72 live last week, and $187.58 dressed (around a 30% decline since the week ending 1/11). The USDA reports higher wholesale beef prices in its morning report. Choice boxes are up $1.39 to $205.36, and select boxes have gained 77 cents to an average price of $199.82, after falling under $200 yesterday for the first time since January 3, 2014. Wide retail margins for beef continue to encourage substitution of pork and poultry.
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