Feeder Cattle (P) Futures PricesThu, Sep 3rd, 2015
Latest Brugler Feeder Cattle (P) Report
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Live cattle futures were higher on the day with most contracts up 37 to 55 cents. Feeders were also higher, settling with gains from 80 cents to $1.80, helped higher by cheaper feed prices. The USDA shows 13,100 MT of beef was booked during the week ending August 27, an increase of 2.5% from the week before. Current year accumulated commitments are 8% smaller than the same time last year. Average dressed slaughter weights continue to climb, up a pound to 838 during the week ending 8/22. The CME Feeder Cattle Index for 9/2 was up 59 cents to $207.71. Cash cattle trade saw live sales of $140-$142 today, and dressed sales of $222.The afternoon USDA report has average choice boxed beef prices off 16 cents to $240.81 (-$3.40 Thu to Thu), and select boxes 59 cents lower to $228.44 (-$4.68 Thu to Thu). The spread has been greater than $10.00 for twelve straight days, and select boxes have dropped in average price for the last eleven. Week to date estimated slaughter is 439,000 head, up 4K head from last week.
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