Feeder Cattle May '19 (GFK19)
Feeder Cattle Futures Market News and Commentary
Live cattle futures gains tailed off throughout contracts for Wednesday’s close. Gains were seen from 7 to 52 cents in the front months. Feeder cattle futures were mixed after Wednesday’s round of trading, with the soon to expire Nov contracts remaining unchanged on the day. The 11/19 CME Feeder Cattle index was back up 8 cents to $146.62. Analysts expect on average for October placements to be 12.2% higher yr/yr. Analysts also expect the total cattle on feed as of Nov 1 to be 1.3% above last year’s Nov 1. Afternoon boxed beef prices were again lower in the afternoon since midday gains. Choice boxes fell a modest 80 cents at $238.21, while select boxes were lower by 70 cents to $214.77. Cash cattle traded at $116 in KS and TX. The Fed Cattle Exchange online auction had good action, with 1,229 of the 1,398 head sold. TX feedlots passed on offers of 114, KS feedlots accepted 114 offers and NE feedlots were given full ask price of $115-$116. The USDA’s weekly estimated FI cattle slaugh... Read more
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