Feeder Cattle Futures PricesWed, Sep 28th, 2016
Latest Brugler Feeder Cattle Report
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Live cattle futures were sharply lower on Tuesday, with the front two contracts finishing the session limit down in a delayed reaction to the Friday afternoon USDA reports. Chart signals had turned bearish on Friday. Feeders were also much lower with most contracts losing $4 or more. Soon to expire Sept futures were only down $1.20 on the day as they closed at $134.825. The CME Feeder cattle Index for 9/23 was $137.14. They need to converge on Thursday. Wholesale beef prices were mixed on Tuesday. Choice boxes were up $1.18, but select boxes were down 7 cents averaging $188.22 and $179.58 respectively. Cash cattle trade was slow last week, and it has been inactive so far this week. WTD estimated slaughter is running 1,000 head behind last week, but still 4,000 head larger than a year ago.
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