Feeder Cattle Cash (GFY00)
Feeder Cattle Futures Market News and Commentary
Live cattle futures were are up 70 cents to $1.12 at midday, with Dec options expiring tomorrow. Feeder cattle futures are trying to recover some of yesterday’s losses, with midday gains of 40 to 50 cents. The 12/03 CME Feeder Cattle index was $145.19 after gaining 16 cents. Weekly beef export sales from the USDA were shown at 12,181 MT, which were 46% lower than the week prior, but only 5.57% less than the same week last year. Wholesale boxed beef prices were again lower. Choice boxes were shown $1.11 lower, and select boxes were $1.32 lower. Monthly Census data converted to pounds put October beef shipments at 248.6 million lbs. The FCE online cattle auction sold 860 of the 1,189 head listed, at a weighted average price of $118.36. Private reports show $119 cash sales in KS, with the USDA reporting light activity in the $117- 119.50 range. USDA estimated the week to date FI cattle slaughter at 361,000 head through Wednesday, last week was 341,000 head (ahead of the holiday) and t... Read more
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Simply do not go to sleep!
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- Daily Livestock Commentary
Have cattle futures topped out?
- Livestock Report
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