Live Cattle Jun '18 (LEM18)
Live Cattle Futures Market News and Commentary
Live cattle futures were $1.07 lower to $.15 higher on Tuesday, while feeder cattle futures made 27 to 70 cent gains in the front months. The 10/18 CME Feeder Cattle index dropped $1.03 to $144.93. USDA released the Cold Storage report last night, with September 30 beef stocks at 464.186 million lbs. That is down 8.47% from last year and was also 1.22% smaller than August. Analysts on average expect the USDA’s Cattle on Feed report (Friday) to show that 2.082 million head were placed on feedlots for September. If realized, that would be 1.5% more than Sept. 2018. Expectations for September marketings are centered around 1.738 million head, which would be a 1.1% increase yr/yr. Wholesale boxed beef prices were higher Tuesday, but the ch/s spread had narrowed by $2.84 to a $22.85 choice premium. Choice boxes closed $0.80 higher to $220.93, while Select boxes are up $3.64 to $198.08. The USDA weekly estimated FI cattle slaughter was 237,000 head through Tuesday. That is up 2,000 head fro... Read more
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Cattle on Feed report this Friday
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