Fats Fade as Feeders Bounce

After 2 triple digit down days took feeders below their 100 day MoAv and to July levels, the midweek session bounced the market back up by 45 to 90 cents. Fat cattle worked lower on Wednesday but closed off their lows with 10 to 45 cent losses. Midweek cash trade picked up in the WCB with sales form $142-$144 consistent with $143 last week. The Southern market has yet to establish for the week. The CME Feeder Cattle Index dropped 9 cents on 9/13 to $179.97. 

Wholesale Boxed Beef prices weakened again on Wednesday afternoon with Choice $3.19 weaker and Select $3.47 lower. USDA estimated FI cattle slaughter for the week at 379k head compared to 352k head during the same week last year. 

Oct 22 Cattle  closed at $144.350, down $0.450,

Dec 22 Cattle  closed at $150.050, down $0.400,

Feb 23 Cattle  closed at $154.475, down $0.250,

Sep 22 Feeder Cattle  closed at $179.975, up $0.525

Oct 22 Feeder Cattle  closed at $181.425, up $0.900