Live Cattle (P) Futures PricesThu, Oct 20th, 2016
Latest Brugler Live Cattle (P) Report
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Live cattle futures are sharply higher at midday, with most contracts snatching back their triple digit losses from Wednesday. Feeders are also sharply higher, erasing losses from Wednesday trade. The CME feeder cattle index for 10/18 was down 11 cents at $120.58. Boxed beef prices are lower again in the morning report, adding to the more than $2 drop yesterday. The Choice average slipped 16 cents and the select price was $1.38 lower. Cash cattle trade picked up this morning, with an average price of $98.31 for all grades of steers. Reported dressed sales were much thinner and averaged $154.16. WTD slaughter is estimated at 345,000 head, 1,000 head more than a week earlier and 9,000 head larger than a year ago. This morning, USDA reported 16,000 MT of beef was sold for export in the week ending 10/13, a 27% improvement from the previous week. Another 600 MT was sold for 2017 delivery.
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