Feeder Cattle Futures Market News and Commentary
Fat cattle futures are extending Monday givebacks with midday losses of 12 to 32 cents. Feeders are trading higher through midday, bouncing back with $0.30 to $1.12 gains. USDA noted light Monday trades in the WCB with a few sales at $122 and $193 dressed. The CME Feeder Cattle Index was $154.04 on 9/23, down by 45 cents.
Wholesale Boxed Beef prices were mixed again in the morning update tightening the spread to $26.36. Choice was 33 cents weaker while Select was up $1.63 to $276.01 cwt. USDA estimated Monday’s FI cattle slaughter at 119,000 head. That is even with last week and up 3k from the same Monday last year.
Oct 21 Cattle are at $122.200, down $0.200,
Feb 22 Cattle are at $132.275, down $0.125,
Sep 21 Feeder Cattle are at $154.550, up $0.300
Oct 21 Feeder Cattle are at $155.875, up $1.100