Feeder Cattle (P) Futures PricesFri, Sep 23rd, 2016
Latest Brugler Feeder Cattle (P) Report
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Live cattle futures were able to finish Friday trade with October 20 cents higher on the day, but 60 cents lower on the week. Dec futures rallied to close only a dime lower after showing losses of more than $2 earlier in the session. Sept feeders were 17.5 cents lower on the day, but still up $1.325 from last Friday. Monthly data from USDA showed frozen beef stocks as of August 31 were up 1.5% from July 31, and were about 1.34% larger than a year ago in the Cold Storage report. The Cattle on Feed report had all COF at 101.5% of a year ago. Placements were 115.1%, and marketings were 117.6%. Remember, August 2016 had 2 extra kill days vs. August 2015. Wholesale beef prices this afternoon were down 56 cents for choice boxes and 81 cents for select. Cash cattle trade was quiet this week. Weekly slaughter including Saturday estimates is 592,000 head, which is 12,000 head smaller than last week, but 18,000 head larger than a year ago.
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