Feeder Cattle Cash (GFY00)
Feeder Cattle Futures Market News and Commentary
Cattle futures closed the midweek session $0.47 to $1.02 higher on the day. Feeder cattle futures ended the session 30 to 90 cents higher. Sept feeders, with 955 contracts OI (as of 9/22), closed $142 flat ahead of tomorrow’s expiration. The CME Feeder Cattle Index was a $0.28 premium to Sept futures, at $142.28 for September 22. In the FCE auction this morning, 219 of the 683 head sold at $104 and $104.25. Wednesday business picked up, with USDA reporting 1,853 sold throughout cattle country at $105 and $164 live and dressed respectively. Wholesale boxed beef prices were higher on Wednesday tightening the Choice premium by 87 cents. Choice boxes were quoted @ $215.87 and Select was $1.30 higher to $207.60. Primal ribs were quoted at $367.13 and $341.95 cwt. for Choice and Select respectively. Choice loins were $21.41 cwt. above Select @ $293.93. USDA estimates the week’s FI cattle slaughter through Wednesday at 361k head. That compares to 360,000 head LW and 350,000 head LY.
- Grain markets pause mid-week
Grain markets pause mid-week
- TFM Sunrise Update Sept 23, 2020
Grains hit pause overnight, with beans acting as the baramoter of price direction. Catte called weaker unless hogs take off. Hogs called higher.
- TFM Sunrise Update Sept 22, 2020
'Dead cat bounce' in grains overnight. dollar stabilizes. Livestock calls are steady/firm